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Under the new law, the homestead exemption, which allows bankruptcy filers in some states to exempt the value of their homes from creditors, is limited in various ways. If a filer acquired their home less than 1,215 days (40 months) before filing, or if they have been convicted of security law violations or been found guilty of certain crimes ...
Originally, bankruptcy in the United States, as nearly all matters directly concerning individual citizens, was a subject of state law. However, there were several short-lived federal bankruptcy laws before the Act of 1898: the Bankruptcy Act of 1800, [3] which was repealed in 1803; the Act of 1841, [4] which was repealed in 1843; and the Act of 1867, [5] which was amended in 1874 [6] and ...
The Federal Rules of Bankruptcy Procedure (abbreviated Fed. R. Bankr. P. or FRBP) are a set of rules promulgated by the Supreme Court of the United States under the Rules Enabling Act, directing procedures in the United States bankruptcy courts. They are the bankruptcy law counterpart to the Federal Rules of Civil Procedure.
The word "bankruptcy" has been much in the news lately thanks to the recent bankruptcy filing by collapsed crypto exchange FTX and reports that Elon Musk might take his recently acquired Twitter ...
Given the complexities of bankruptcy laws, it's crucial to consult with a bankruptcy attorney. They can help you understand whether you qualify for Chapter 7 or if Chapter 13 is more appropriate ...
Key takeaways. Loans, medical debt and credit card debt are generally all able to be discharged through bankruptcy. Tax debt, alimony, spousal or child support and student loans are all typically ...
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