Tag archive for ‘protecting assets with a bankruptcy attorney’
Bankruptcy Attorneys Must Pay Attention to Local Procedures When Handling Reaffirmation Agreements
by Drew Broaddus on 12/31/09 | 0 Comment(s)
Richard Stokan from our office recently wrote an interesting post here about the practical aspects of negotiating reaffirmation agreements. In short, a reaffirmation agreement is a new contract signed between the debtor and a lender that reaffirms the debtor’s personal liability for a debt (typically an automobile or home). This agreement essentially states that the Read more>>
Avoid Having Your Bankruptcy Petition Dismissed On Technical Grounds Under 11 U.S.C. § 301(a)
by Drew Broaddus on 11/24/09 | 0 Comment(s)
On September 29, 2009 the U.S. Bankruptcy Court for the Eastern District of Michigan (which has divisions in Detroit, Bay City, and Flint) issued a “Notice Regarding Dismissal of Case for Failure to File Petition Pursuant To 11 U.S.C. § 301 (a).” 11 U.S.C. § 301(a) states that a “voluntary case under a chapter of Read more>>
Exemption for Retirement Accounts
by Richard Stokan on 11/23/09 | 0 Comment(s)
As part of the reforms of the Bankruptcy Abuse and Prevention Consumer Protection Act of 2005 (BAPCPA), Congress included an exemption for virtually all types of pension and retirement accounts recognized by the IRS. Prior to the change, debtors had to rely on state exemptions to the extent they existed. Section 11 USC 522(d)(12) exempts Read more>>
What Property Can I keep In A Bankruptcy?
by John O'Connor on 9/28/09 | 4 Comment(s)
People considering bankruptcy often have the misperception that they will lose all of their property if they decide to file. Fact is, only non-exempt property will be eligible for sale in a chapter 7 bankruptcy. What does this mean? As a matter of public policy legislatures at both the state and federal levels have enacted Read more>>
