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Jennifer M. Schank

Jennifer Schank’s Answers

2 total

  • What are the most common reasons to request relief from an automatic stay

    in a bankruptcy case, so that pending litigation against the debtor can be pursued. Basically I have a lawsuit pending against debtor and in the process he declared bankruptcy, which apparently gives him an automatic stay. What are the most comm...

    Jennifer’s Answer

    Relief from the automatic stay is common when a creditor wants to move forward with a foreclosure after the bankruptcy has been filed. Another common reason to request relief from the stay is to proceed with divorce proceedings in state court.

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  • Can I keep my motorcycle that is paid in full and is worth $1,900 if I file chapter 7?

    I have a leased car but to save on gas I would like to keep my motorcycle 2002 Honda Shadow VT 600 C.

    Jennifer’s Answer

    It depends. You are allowed certain amounts of exemptions in which you can exempt and protect your personal property so that it cannot be sold and distributed to your creditors. If you do not have enough exemptions, you will not be able to protect and keep your motorcycle. If you do have available exemptions, you can exempt and protect it.

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