Chapter 7 bankruptcy is a liquidation bankruptcy. A person has overwhelming debt, but they still own specific assets. They are required to liquidate nonexempt assets—there are often key exemptions for things like tools of the trade, residential property or...
Month: February 2026
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Why does cancer often lead to personal bankruptcy?
Individuals diagnosed with cancer often face lengthy courses of treatment. Cancer treatments range from surgery, chemotherapy and radiation to cutting-edge immunotherapy treatments that help the body fight the cancer on its own. For many people with cancer, the first...
2 assets that can skip an estate plan
The majority of a person’s assets can be passed down to the next generation through their estate plan. Estate planning is certainly about more than just assets, as it can also address medical decisions and things of this nature. But a large percentage of the process...
