Types of Assets You Can Keep After Filing Bankruptcy. In the realm of bankruptcy, assets are divided into two categories—exempt and non-exempt. The differentiation between these categories has ...

An exempt asset is untouchable by creditors, right? Normally, yes. But sometimes, no. A recent Opinion from the First Circuit in Malley v. Agin, ___ F.3d ____, 2012 WL 3326629 (1st Cir., Aug. 15 ...

Chapter 7 allows you to discharge your debts by selling non-exempt assets, whereas Chapter 13 discharges debts by creating a repayment plan and paying the debts off over three to five years.

You have significant non-exempt assets. If you own valuable property that's not protected by exemption laws in your state, Chapter 7 bankruptcy could result in forced liquidation.

Chapter 7 bankruptcy involves liquidating a debtor's non-essential assets to repay creditors. Chapters 11 and 13 are more expensive and longer than Chapter 7, but you can keep your assets.

The federal government does not regulate the protection of IRA assets from nursing homes and if you are not already taking ...

Additionally, you may be required to surrender some non-exempt assets to be sold for creditor repayment. Chapter 11: Reorganization for Businesses and Individuals with High Assets.

If you are not already taking required minimum distributions (RMDs), your IRA could be considered a non-exempt asset. You can learn more about how to protect your personal assets by speaking with ...