In every state there exists a list of property that is protected from creditor garnishments and property seizures.  We call these laws Exemptions.  In theory, these laws are designed to prevent creditors from taking away everything a person owns, but in practice few debtors know how to assert their exemption rights and they often

There is a limit as to how much property is protected in bankruptcy, and debtors who own a 126216941.jpgsignificant amount of property are frequently tempted to transfer the property out of their name before the case is filed.  Anticipating this temptation, bankruptcy laws give the Chapter 7 Trustee the power to retrieve the transferred property