Chapter 7 and Inheritances

What happens if, after you file for a Chapter 7 bankruptcy, a parent, spouse or other family dies leaving you some money or other items of significant value? Does this affect your bankruptcy? Are you entitled to keep the inheritance or must you turn it over to the Trustee or…

Continue reading

I can’t file for bankruptcy – I’ll lose my house (car, boat, etc.)!

This has got to be the #1 misconception I hear on an almost daily basis from people. They often refuse to consider filing for bankruptcy relief because they believe, often incorrectly, that they will lose their home or car. This is not necessarily true and one should not refuse to…

Continue reading