By Jeff Field | Published May 30, 2022 | Posted in Bankruptcy | Tagged Tags: chapter 7, exemptions, IRAs | Leave a comment
Are IRAs Exempt From Creditors During Chapter 7 Bankruptcy?
In a Chapter 7 bankruptcy (also known as “liquidation”), a court-appointed trustee is tasked with collecting and selling the debtor’s assets and using the proceeds to pay the creditors. However, the trustee cannot take everything. The debtor can legally retain ownership of certain assets, in whole or in part. These bankruptcy exemptions include various forms Read More
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Proving “Undue Hardship” to Discharge Student Loan Debt
Americans are now burdened by $1.75 trillion in student loan debt. That’s twice as much as the $856 billion Americans owe on credit cards. Not surprisingly, a large number of people who file for bankruptcy have student loan debt. Unfortunately, only about 1 percent of them even try to get that debt discharged. Part of Read More
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