Filing for Chapter 7 can wipe out your debt quickly, but some property may be on the line if it isn't protected.

A debtor's non-exempt assets (and even the debtor's entire business) are commonly sold during the course of a bankruptcy case by the trustee or a chapter 11 debtor-in-possession ("DIP") as a means of ...

Bankruptcy is a legal term that often induces fear and confusion in the minds of individuals and businesses struggling with mounting debts. It is essentially a legal recourse designed to provide those ...

In the post-judgment world, a creditor may levy execution upon the debtor's non-exempt assets wherever they are found within the court's jurisdiction. This includes the debtor's cash, whether in ...

In a Chapter 7 bankruptcy, creditors can seize certain assets to repay the debts you owe. However, exceptions allow debtors to retain some of their assets (or at least part of the asset’s value).

As a last resort, many people file for bankruptcy when they are faced with overwhelming debt. In fact, 486,613 people filed for bankruptcy in 2024 — up 16.2% from the previous year. In addition to 464 ...