Fraudulent transfer refers to a transfer of property made by a debtor in order to defraud creditors. For example, selling, or giving away a house to some other person in order to keep the property out of the hands of… Continue Reading
Chapter 7 bankruptcy is limited to debtors who do not have the means to make payments to unsecured creditors. Whether or not a debtor can pay creditors is determined using a means test. A means test takes the average income… Continue Reading
In most circumstances it is permitted to sell property before filing bankruptcy. However, the sale of property before filing bankruptcy must be disclosed to the bankruptcy trustee in the statements filed with the court, and these transactions are scrutinized to… Continue Reading
The answer to this question depends on in which state the bankruptcy case is filed. Each state has its own set of exemptions available to debtors who file bankruptcy. Exemptions are laws that protect property from creditors. In Chapter 7… Continue Reading
The Chapter 13 plan base is the amount that the debtor must pay during the duration of the plan in order to receive a discharge and complete a bankruptcy case. However, the plan base is not a fixed number that… Continue Reading