Bankruptcy and LLC

The business is no longer in existence. There is no real benefit to a business bankruptcy. A personal bankruptcy should be investigated. Most...

Until the court has ruled on the turnover motion, the Sheriff retains the money. At this point it is critical to move fast with a bankruptcy. In...

If my husband files for bankruptcy separately, will they take my car which is in his name?

I agree with Bruce Truesdale's answer. Don't be so sure that your inherited IRA is at risk. That question in NJ is far from settled. You need to...

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Can creditors use my inherited IRA if I file jointly with my husband for bankruptcy?

First, unless you are filing bankruptcy, your ihherited IRA is not at risk. Secondly, under a NJ statute, NJSA 25:2-1(b), there is a very good...

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I'm a widow facing foreclosure.I filed chap. 7 bankruptcy. I feel I should let it be dismissed.should I? how do I keep the house

Depending on the judge, you may be able to have the case dismissed, IF you have not been in the case too long, or if there will not be any assets...

We're contemplating to file Chapter 7 due to foreclosure and have a business as sole proprietors

Yes you can use the wildcard exemption for the value of your business. If the business is created as an LLC or corporation and that entity owns the...

In your bankruptcy, the Means Test measures all your income including "regular" contributions by members of your household. So his regular payments...

Lien Stripping

Lien stripping is a remedy available in Chapter 13 where the value of collateral, typically a home or real estate, is less than the amount due on...

Should I wait until my bankruptcy has been discharged to have a security freeze on my credit reports?

I agree with the other responses. Get your credit reports before filing, so that you make sure all possible debts are listed. After your discharge,...

With these problems a bankruptcy is very much justified and necessary. Just because you have little or nothing now doesnt mean they cannot levy on...