Common Pre-Bankruptcy Mistakes: Preference Payments

Common Pre-Bankruptcy Mistakes: Preference Payments

PAYMENTS TO FAMILY OR FRIENDSDuring financial duress, people in debt will often borrow money from family or friends. This can lead to problems if a person repays the family member or friend then files for bankruptcy in the months or year following the repayment....
Home Equity – Can You Still File Bankruptcy?

Home Equity – Can You Still File Bankruptcy?

Do you own a home? Are you worried about keeping your home if you were to file for Chapter 7 bankruptcy? While you can protect a large portion of equity under Washington’s homestead exemption, quickly rising home values might mean that you should seek Chapter 7...
Bankruptcy – Can I Keep My Car? Should I?

Bankruptcy – Can I Keep My Car? Should I?

Many people worry that filing bankruptcy means they need to give up their vehicle. That simply is not the case. If you own your vehicle without a loan, you can keep your vehicle in a Chapter 7 so long as you can use the bankruptcy exemptions (property protections) to...
Common Pre-Bankruptcy Mistakes: Fraudulent Transfers

Common Pre-Bankruptcy Mistakes: Fraudulent Transfers

FRAUDULENT TRANSFERS.Fraudulent transfers occur when a person transfers assets of value to friends and family prior to filing for bankruptcy. Following the bankruptcy, the person either has the property transferred back to them or they continue to benefit from the...
Bankruptcy Basics: The Means Test

Bankruptcy Basics: The Means Test

PROTECTING YOUR INTERESTS, BUSINESS, PROPERTY & RIGHTS In 2005, Congress made bankruptcy eligibility more complicated by adding an income test to the forms. Now, not only do people need to list everything they own and their liabilities, but they also need to...