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Chapter 7

Veterans Exempt from Means Test

On Friday, the President signed the Honoring American Veterans in Extreme Need Act of 2019, which excludes from the calculation of monthly income, for purposes of the Bankruptcy Code’s means test, certain benefits paid by the Department of Veterans Affairs and the...

Will I lose my wedding ring in bankruptcy?

The quick answer is, I’ve never had a client lose their wedding ring. There are some interesting twists and angles to consider. The first concept to understand is exemptions. The wedding ring is exempt under both the federal and Minnesota exemptions. The federal...

Reaffirming Debts

Reaffirming debts is something that is rarely done in bankruptcy, and almost never needs to be done. Reaffirming should not be confused with simply voluntarily continuing to pay discharged debt, which is what most people do on their secured obligations. That topic was...