What Property is Exempt and Nonexempt in My Bankruptcy?
When you file Chapter 7 bankruptcy in the state of Washington, there is some property that will be protected under the state’s exemptions (RCW 6.15.020). These exemptions can also apply in a Chapter 13 case. Washington is one of the few states that allows you to choose between the state or federal exemptions. This means…
What is a Bankruptcy Trustee?
When you file for bankruptcy, the court will appoint a trustee appointed to your case. The bankruptcy trustee will have various roles. The trustee is there to review the petition, look for red flags and fraudulent claims. His goal is to maximize the amount of money that your creditors will receive. Who Pays the Bankruptcy…
Business Bankruptcy: Does Your Business Qualify?
Does your business qualify for a business bankruptcy? If your business is struggling to turn a profit or has excessive debt, it might be time to consider filing for bankruptcy. Bankruptcy is a lifeline for businesses, just as much as it is for consumers. Most business owners assume that if they need to file bankruptcy,…
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