Bankruptcy Estate The term “bankruptcy estate” describes the collection of property rights that can be administered by the court in a bankruptcy case. The estate is created at the start of the case and it generally consists of all interests of the debtor in any kind of property as of that time. It includes interests […]
There are 10 Ohio bankruptcy exemptions you should know. Exactly what are exemptions? This is a term you need to understand to fully know what you will hear from your bankruptcy attorney. Exemptions in bankruptcy law are the same as in tax law. When you do your taxes exempt income is what you get to […]
Generally there are two purposes of bankruptcy. Bankruptcy offers a fresh start for the debtor and treats all of the creditors fairly. In most cases involving consumer debtors, the fresh start is the most significant, because there are usually few assets to be liquidated and distributed to the creditors. The Fresh Start The “fresh start” […]