Bankruptcy law doesn’t seem to get much attention from the Supreme Court. So on June 17, 2010 when the Supreme Court decided Schwab v. Reilly, bankruptcy attorneys, judges, and trustees paid close attention to the Court’s holding, which explained what debtors are protecting when they claim an exemption in bankruptcy. 130 S.Ct. 2652 (2010). In […]
TEXAS BANKRUPTCY: IS THE TRUSTEE GOING TO TAKE MY POSSESSIONS?
Chapter 7 bankruptcy is sometimes referred to as a “liquidation” bankruptcy case. However, in practice there is very little liquidation of property. Most Texas bankruptcy debtors find that they don’t lose any of their property in Chapter 7 bankruptcy. When a person files bankruptcy they have to list all of their property and what they […]