The possibility of filing bankruptcy with no money seems bleak if you don’t know what you’re doing. You should know that the process of filing bankruptcy doesn’t always require you to have money to spare. Usually, people apply to bankruptcy courts to exempt themselves from the filing fee. Once they have been exempted, they can … Continue reading “How Can I File Bankruptcy with No Money?”
Transcripts Exemptions are assets that are protected in a Chapter 7 bankruptcy. Exempt assets can’t be sold by the trustee for the benefit of your creditors.
Transcripts Transferring assets to friends or family members prior to the bankruptcy filing is a bad idea. The bankruptcy schedules require you to disclose all transfers, the bankruptcy trustee will ask about transfers, the court can undo any transfers that are deemed to be fraudulent and if the court or the trustee finds out about … Continue reading “Can I transfer assets to someone else before I file a bankruptcy?”
Unforeseen events can turn catastrophic in no time. Many times, those events destroy you financially, leaving you with almost nothing. As a business entity, you cannot just ‘walk away’. You have to declare bankruptcy, stating that you can no longer fulfill your financial obligations. That must be passed through an entire legal framework. You can … Continue reading “Why You Should Hire a Bankruptcy Lawyer”