Tag: bankruptcy lawyer
Bankruptcy Exemptions: Why You Need Them
Like an iron gate protecting an entrance, bankruptcy exemptions protect a debtor’s property against loss in bankruptcy. Theory of Bankruptcy Exemptions In the old days when a person filed bankruptcy, the story goes, their property was taken and sold or ‘liquidated’, the proceeds then divided among creditors. Any remaining debt […]
Bankruptcy Discharge
The point of filing a bankruptcy, most often, is to discharge debt. What debts are discharged and what debts are not? A bankruptcy discharge means that the legal obligation to pay a debt is wiped away. For all intents and purposes, the debt is gone. This applies in a Chapter […]
