Schwab: Exempting 100% Interest in Asset

AyobamiOfficial Form 106Cs Schedule C: The Property You Claim as Exempt, effective December 1, 2015, permits debtors to remove assets from the estate unless the trustee objects and proves the property is worth more than “any applicable statutory limit.” Judge Marvin Isgur of the Southern District of Texas approved of the new form’s Schwab option in In re Ayobami in his March 1, 2016 Memorandum Opinion Ayobami¬†and clarified in his Supplemental Memorandum Opinion issued on June 9, 2016. Ayobami supplementatl memo order, when electing dollar-limited federal¬†exemptions.

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SURVEY: 4 OUT 5 U.S. BANKRUPTCY ATTORNEYS REPORT MAJOR JUMP IN STUDENT LOAN DEBTORS SEEKING HELP, FEARS GROW OF NEXT MORTGAGE-STYLE DEBT THREAT TO U.S.

SEEKING HELP, FEARS GROW OF NEXT MORTGAGE-STYLE DEBT THREAT TO U.S.

WASHINGTON, D.C. – With student loan debt now topping U.S. credit card debt and few or no options available for distressed borrowers (including unwary parents who co-signed loans and now face the loss of nest eggs, retirement homes and other assets), America faces the very real possibility of another major economic threat on a par with the devastating home mortgage crisis, according to a new survey and report published today by the National Association of Consumer Bankruptcy Attorneys (NACBA).

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