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Property of the Estate & Inherited Property
Property of the Estate & Inherited Property

11 USC 541(a) dictates that upon the filing of a bankruptcy case, an estate is created. This estate includes all legal and equitable interests of the debtor at the time of filing, and in certain instances, interests in property that arise after the filing of a bankruptcy ...

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Blog posts in Foreclosure Defense

  • Chicago Foreclosures Spike in October 2013

    According to a story published in the Chicago Tribune on November 13, 2013, Chicago-area foreclosure filings rose nearly 30% in October 2013. This ...

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  • Surrendering Property in Bankruptcy

    A common misconception about bankruptcy, especially Chapter 7 bankruptcy, is that you lose all of your property upon filing. This isn't true; we've ...

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  • Foreclosures in Bankruptcy

    In today's financial climate, an increasing number of people are having difficulties keeping up with a tumultuous real estate market. In the ...

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  • The Bankruptcy Petition and Schedules, Part III

    Our final discussion on the Bankruptcy Petition and schedules looks mostly at income, expenses, and an overview of your financial affairs. This would ...

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  • Common Causes of Bankruptcy

    Every situation is different, and each bankruptcy case is unique in the circumstances that precipitated its filing. This is one of the things that ...

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  • Secured Creditors and the Automatic Stay

    We discussed yesterday the basic concepts of the automatic stay in a bankruptcy case. The automatic stay stops all debt collection efforts from the ...

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