Understanding the distinctions between different types of assets – exempt and non-exempt – and their fate post-bankruptcy filing is a critical aspect of this legal process. This understanding ...

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 ...

Businesses and individuals can use Chapter 7 bankruptcy to get out of debt by eliminating most unsecured debts and selling non-exempt assets to repay creditors, explains Wayne Mortenson ...

In this process, the court appoints a trustee to sell your non-exempt assets and use the proceeds to pay back creditors to the extent possible. After the liquidation process, any remaining ...

Most debtors are aware that, when they file for bankruptcy protection, any non-exempt assets that they have are likely at risk of being taken and used to satisfy creditors. The issue of exempt ...

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 ...

Chapter 7, often referred to as "liquidation bankruptcy," involves the sale of non-exempt assets to pay off creditors and typically results in the discharge of most unsecured debts. This can ...