What are Schedules I & J in a Bankruptcy Petition?
When a debtor files for bankruptcy, they need to disclose details of their financial situation. This is accomplished by filing their petition and schedules with the Bankruptcy Court. Two of the most important schedules that a debtor files with their petition are Schedules I and J. These schedules document the debtor’s estimated monthly income and […]
Are Retirement Accounts Exempt When Filing for Bankruptcy?
When filing for bankruptcy, debtors often ask “what property of mine do I get to keep”? The good news is that in most cases, 100% of a debtor’s property is protected by available bankruptcy exemptions. This will typically include a debtor’s retirement accounts. In this article, we will take a closer look at what is […]
Is Life Insurance Exempt in Bankruptcy?
When a debtor files for bankruptcy, they may protect some and sometimes even all of their assets, provided they are covered by the allowable bankruptcy exemptions. The bankruptcy trustee assigned to a debtor’s case can liquidate or sell a debtor’s non-exempt assets in order to pay the claims from the creditors in a case. While […]