Transferring Non-Exempt Assets to Exempt Assets in Ch. 7 Bankruptcy?

There's nothing wrong with doing what you suggest, but that is not turning a non-exempt asset into an exempt asset unless your applicable state law...

What are the rules concerning forming a new corporation after filing a Chapter 7 bankruptcy?

A debtor can form a corporation at any time, before, during, or after filing a Chapter 7 case. The issue becomes what assets are being used to...

Claim chapter 11; am elible except for maybe 'cause a family member has me as co-owner of her account; has 26K..

Chapter 11 will cost you as much or more to file than you state you owe to your creditors. Why would you want to file Chapter 11? Do you have...

Have questions about debts I want to discharge in chapter 7 bankruptcy. Can't afford lawyer now and really need advice

tax dischargeability is very complicated and you have not provided anywhere near enough information to answer your question. In order to determine...

Currently in Chapter13 (1 year, 4 to go)...income is from Fl state pension. Eligible for SS but am now being told the trustee

In most cases, you can dismiss a chapter 13 case at any time, although there are circumstances where a judge can instead convert your case to a...

Yes. And if you are paying less than 100% to your unsecured creditors you may have to explain where you came up with the cash to purchase another...

Is converting an IRA go a Roth IRA considered income for the means test in a Chapter 7?

It shouldn't be; you're not receiving the money--it's merely going from one qualified retirement account to another. Mark J. Markus, Attorney at...

Filing chapter 7 bankruptcy. What happens to money I owe the probation dept. I believe it is restitution

restitution as part of a criminal proceeding is not dischargeable in bankruptcy. You must list it along with all your other debts. It would...

Filed Ch.7, and will be released. Have upsidedown double mortgage. What are the pro and cons of converting to a Ch.13 now.

Yes, your unsecured debts will be discharged after completion of your Chapter 13 plan (assuming they are not incurred through fraud or other...

The skeptical answer is that this is a way for Toyota's bankruptcy counsel to generate fees. The real reason they file a proof of claim is so that...