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I am filing for Chapter 7 bankruptcy and everything is
Hi, I am filing for Chapter 7 bankruptcy and everything is straightforward except my parents are surrendering a whole life insurance policy they've had on me since I was a baby with a cash value of ab… read more
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Borrowing from own whole life policy (that is otherwise exempt,
Borrowing from own whole life policy (that is otherwise exempt, i.e. Cash surrender value is covered by exemptions) is that considered cash collateral? Do I need to file motion to incur debt?… read more
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Under California law in Superior Court:Please tell me what
Under California law in Superior Court: Please tell me what assets I can claim as exempt from a bank levy / attachment by Judgment Creditor. I understand that there is a wild card exemptions but is it… read more
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I have a life insurance policy that has a cash value. I am
I have a life insurance policy that has a cash value. I am recently divorced an my ex husband is still listed as the beneficiary. Is this exemptable? Partially or in full? under which law? I currently… read more
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I am thinking of filing chap 7 bankruptcy. if i do my question
I am thinking of filing chap 7 bankruptcy. if i do my question is this, I am in Texas. I haave a lot of life insurance both term and whole life. I have about 20,000 dollars in cash value in total on m… read more
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I have a term life policy worth $6000 cash value - if I cash
I have a term life policy worth $6000 cash value - if I cash it out and close it. I could use this money solely to pay credit card minimums for six months to delay bankruptcy (I have medical bills tha… read more
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I am filing chapter 13 on jan 27th. I will Be inheirting $17,000
I am filing chapter 13 on jan 27th. I will Be inheirting $17,000 in real property in Arkansas and $3000 in Cash in May. My lawyer has said he can exempt up to $14,000 under federal exemptions. Would t… read more
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Oregon Bankruptcy Law states that the cash value of life insurance
Oregon Bankruptcy Law states that the cash value of life insurance is not exempt if the insured is the debtor. Since my wife is the beneficiary of the Plan that I am paying for to take care of her if … read more
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Im in Georgia and I have a whole life policy that has a current
Im in Georgia and I have a whole life policy that has a current cash value of about $6,000. If I file bankruptcy can they sell the policy to a company that buys life insurance policies? which exemptio… read more
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What assets are protected by a judgement in SC for land? IRA IRA
What assets are protected by a judgement in SC for land? IRA IRA ROth SEP 401k Home Car Personal wages what is the best way to protect yourself?… read more
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I have a whole Life insurance policy with MetLife. I am going
I have a whole Life insurance policy with MetLife. I am going to be filing bankruptcy soon. I have a $40,000 loan against this policy. Can I include this in my bankruptcy petition?… read more
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On a personal Chapter 7 bankruptcy in state of Arizona
On a personal Chapter 7 bankruptcy in state of Arizona I presently have a whole life permanent life insurance policy for $100,000.00 I have borrowed against this policy on the cash value approximately… read more
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is the equity of my second to die policy exempt from creditors
is the equity of my second to die policy exempt from creditors and foreclosures in the case of chapter 13 bankruptcy?… read more
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we have cash vaulesin insurances policies can those be used
we have cash vaulesin insurances policies can those be used to pay attorney fees for bankruptcy or will they be taken in bankruptcy?… read more
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My mortgage loan was discharged in chapter 7, the house is
My mortgage loan was discharged in chapter 7, the house is in foreclosure and will soon go to public sale. With regard to real estate taxes which were continued to be paid by the mortgage company (and… read more
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A client is considering a life insurance or annuity for his
A client is considering a life insurance or annuity for his retirement income protection but is afraid that they are not protected from a bankruptcy that he may have to file because of a commercial pr… read more
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I have life insurance for my kids, both whole life and term
I have life insurance for my kids, both whole life and term insurance. Can I deduct these payments from my income on the means test? Or, will I have to surrender the value of the whole life policies (… read more
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our small business is close to bankruptsy. We are concerned
our small business is close to bankruptsy. We are concerned with what can be taken from us personally. 401K, savings, our home, personal items. Dianne… read more
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Meet the Experts:

Terry L.

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JoeLawyer

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I am an attorney.

Paul K, Esq.

Paul K, Esq.

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10 years Exp., Great customer service, Prompt responses.

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DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

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