Published: June 18, 2013
Tags: exemption, Individual Retirement Account, IRA
A Chapter 7 debtor did not forfeit bankruptcy protection for $66,000 held in a Merrill Lynch individual retirement account by granting a lien to the financial institution to cover potential future debts, the 6th U.S. Circuit Court of Appeals has ruled in reversing judgment.
Published: March 8, 2013
Tags: exemption
A Chapter 7 debtor’s luxury automobile may qualify for California’s so-called “wildcard” or “grubstake” exemption, the 9th U.S. Circuit Court of Appeals has ruled in affirming judgment.
Published: December 12, 2012
Tags: consumer protection, exemption, garnishment
A state law limiting wage garnishment does not create an exemption for a debtor in bankruptcy, the Utah Supreme Court has ruled in answering a certified question from the 10th Circuit.
Published: September 6, 2012
Tags: child tax credit, exemption, taxation
Chapter 7 debtors could not claim an exemption for the entire portion of their federal income tax refund that they attributed their child tax credit, the 6th Circuit has ruled in affirming judgment.
Published: August 14, 2012
Tags: Chapter 7, exemption
Chapter 7 debtors qualified for a state exemption excluding from their bankruptcy estates certain life insurance policies and annuity contracts, the 9th Circuit has ruled in reversing judgment.
Published: July 24, 2012
Tags: Chapter 7, exemption
The bankruptcy trustee was entitled to the post-petition appreciation in the value of estate assets that surpassed the amount of “wildcard” exemptions claimed by a Chapter 7 debtor, the 3rd Circuit has ruled in affirming judgment.
By:
Pat Murphy
Published: January 25, 2011
Tags: exemption
Florida’s “opt-out” statute did not apply to preclude a debtor from claiming federal bankruptcy exemptions after he move out of state, the 5th Circuit has ruled in affirming judgment.
By:
Pat Murphy
Published: June 21, 2010
Tags: exemption
A debtor couldn’t claim the proceeds of her husband’s life insurance policies as exempt property in her bankruptcy case, the 6th Circuit Bankruptcy Appellate Panel has ruled in reversing judgment.
A U.S. Supreme Court decision that went against a debtor last week may actually prove to be a boon for future consumer debtors. 
