A homestead exemption is a law that protects a certain amount of equity in an individual’s primary residence from the claims of his or her creditors or, in some states like Florida, the amount of the exemption is unlimited...more
A debt “for fraud or defalcation while acting in a fiduciary capacity” cannot be discharged in an individual bankruptcy case. 11 U.S.C. §523(a)(4). The precise scope of the term, “fiduciary,” within the meaning of this...more
February 2, 2018 There are basically two alternative grounds for a secured lender to achieve a lifting of the automatic stay imposed by the bankruptcy filing of its borrower. One is to establish that the debtor has no equity...more
A vexing issue for some creditors arises when an individual who is typically a guarantor or co-debtor of his wholly-owned company’s debt files bankruptcy under chapter 7, 11 or 13 and then takes the position that the...more
Parents who are forced to file for personal bankruptcy may be surprised to find that school tuition payments they made for their children years earlier could become the target of recovery by an aggressive bankruptcy trustee. ...more