If you file for Chapter 7 bankruptcy or Chapter 13 bankruptcy, you get to keep your pension and retirement plan funds, with a few limitations. If you are considering bankruptcy, you should learn about these limits.
You can keep your social security benefits if you file for Chapter 7 bankruptcy, regardless of where you live. This is because social security benefits are exempt property, which means they are protected in bankruptcy. It is a good idea to maintain your benefits in a separate account, however, because
It might seem unusual to think of the lottery and bankruptcy together but lotto winners have filed for bankruptcy and bankruptcy debtors have won the lottery. The odds are against it, but what if it does happen? Whether you can keep your lottery winnings in bankruptcy depends on: when you bought the
The vast majority of people are able to keep their pets in Chapter 7 bankruptcy. However, if your monthly ongoing pet expenses are unreasonably high, the court could order you to put that money towards your debts instead. Pets as Personal Property When you file a Chapter 7 bankruptcy, all of your personal
In Chapter 7 bankruptcy, almost all property you have an interest in at the time you file your case is property of your bankruptcy estate. This includes any assets you are legally entitled to but have not yet received. If an asset is property of the estate, the Chapter 7 bankruptcy trustee can use
You may be able to keep your checking account when you file for Chapter 7 bankruptcy. It depends on whether you: can claim the account as exempt, and owe money to the bank that holds your account. If the funds in the account are exempt (meaning the trustee cannot take them) and you don't owe money to