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Understanding Bankruptcy : Laws and Exemptions
Manage episode 438442981 series 3598230
Το περιεχόμενο παρέχεται από το bankruptcythroughthelookingglass. Όλο το περιεχόμενο podcast, συμπεριλαμβανομένων των επεισοδίων, των γραφικών και των περιγραφών podcast, μεταφορτώνεται και παρέχεται απευθείας από τον bankruptcythroughthelookingglass ή τον συνεργάτη της πλατφόρμας podcast. Εάν πιστεύετε ότι κάποιος χρησιμοποιεί το έργο σας που προστατεύεται από πνευματικά δικαιώματα χωρίς την άδειά σας, μπορείτε να ακολουθήσετε τη διαδικασία που περιγράφεται εδώ https://el.player.fm/legal.
On this episode of Bankruptcy Through the Looking Glass, Barry Levine and Sam Heninger discuss exemptions in bankruptcy, highlighting how they are the same in both Chapter 7 and Chapter 13 bankruptcies. They explain the option to choose between federal and state exemptions, focusing on real estate exemptions in Massachusetts. Barry shares a personal experience about the importance of recording a new homestead after turning 62 to protect equity up to a million dollars. Tune in for valuable insights on navigating bankruptcy exemptions.
Timestamps:
00:00:26 - Understanding Exemptions in Bankruptcy
00:01:10 - Federal vs. State Exemptions in Massachusetts
00:01:31 - Real Estate Exemptions and Homestead Rules
00:02:25 - Other Common Exemptions
00:02:57 - Exemptions for Savings and Stock Holdings
00:03:28 - Homestead Exemptions in Different States
00:03:59 - Case Study: Homestead Exemption Strategy
00:05:02 - Trustee's Role and Compensation
00:05:34 - Misconceptions About Bankruptcy Abuses
00:06:41 - Defining Dischargeable Debts
00:07:57 - Automatic Stays Explained
00:10:13 - Rights of Creditors in Bankruptcy
00:16:18 - Closing Remarks and Personal Anecdotes
About The Show
Join Barry Levine on Bankruptcy Through the Looking Glass for insightful discussions, expert advice, and real-life stories that shed light on the complexities of bankruptcy law and financial recovery.
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