What are Assets in Bankruptcy?

Assets.  Assets are every form of property that the debtor owns. They include such intangible things as business goodwill; the right to sue someone; or stock options. The debtor must disclose all of his assets in the bankruptcy schedules; exemptions remove the exempt assets from property of the estate.

Share and Enjoy:
  • Print
  • Digg
  • StumbleUpon
  • del.icio.us
  • Facebook
  • Yahoo! Buzz
  • Twitter
  • Google Bookmarks
  • Add to favorites
  • email
  • FriendFeed
  • Google Buzz
  • LinkedIn
  • PDF
  • RSS
  • Technorati
  • Tipd
  • Tumblr
PrintFriendlyShare

Related posts:

  1. Can I Own Anything After Bankruptcy? Yes!  Many people believe they can not own anything for a period of time after filing for bankruptcy.  This is...
  2. Bankruptcy Court Costs Going Up Miscellaneous fees in the U.S. Bankruptcy Courts increase again on November 1, 2011.  The filing fee to initiate a bankruptcy...
  3. What Will Happen to My Home and Car If I File Bankruptcy? In most cases you will not lose your home or car during your bankruptcy case as long as your equity...
  4. Tax Refund in Bankruptcy Cathy Moran on the Bankruptcy Soapbox reminds us of an important asset in bankruptcy:  tax refunds. Your federal and state...
  5. Chapter 7 (Straight Bankruptcy) In a bankruptcy case under chapter 7, you file a petition asking the court to discharge your debts.  The basic...