What exactly is the meaning of surrendering your homestead exemption. What happens to the note do you still pay?

In Bankruptcy terms, surrendering is a process in which a debtor agrees to give up a collateralized property (real or personal) back to the...

Joint real property, when one spouse is filing and the other is not...

The Bankruptcy trustee would have no jurisdiction over a non-debtor’s portion of real or personal property. A commencement of Bankruptcy only...

Should my mother file for bankruptcy

It is not a matter of whether an individual can file bankruptcy. Most debtors qualify for Chapter 7 and/or 13 (of course the following must be...

Bankruptys

Yes he can file Bankruptcy without you. One thing that debtors must be careful of is that during Bankruptcy Proceedings the Automatic stay will...

Can my wife file a chap 7 and I file 13 during the same time period?

Yes you and your wife and can separately. But as mentioned before this can be very complicated. In both Chapter 7 and 13 debtors are required to...

Bankruptcy: Is my spouse's income calculated in the "means testing?" All my debts are in my name only.

In determining the household income for the means test, the court will look at the past 6 month average incomes for both spouses (unless they are...

In most (if not all) jurisdictions you are required to file a Statement of Intentions (SOI) even if you don’t have assets. The SOI is used to...

IM filing for chptr 7. I have 3 cars payed off. $3000 in moms possession. 2300 in my poss, and a 3rd $500 in my cousins pos.

You may save all three depending on your ownership share of each; you can use the Wildcard Exemption for the cars. It is a very good idea to speak...

Chapter 7 discharge of heloc/2nd mortgage? Please read the following statement. We are confused, do we repay.

Chapter 7 Bankruptcy does not allow a discharge of the 2nd Mortgage. This only accomplished under a Chapter 13 under limited circumstances. Under a...