Debt Relief & Bankruptcy Law
69 Public Square, Suite 501
Wilkes-Barre, PA 18701
2:30pm - 7:00pm
Property of the Debtor protected by the bankruptcy filing
PROPERTY OF THE ESTATE and PROPERTY EXCLUDED FROM THE ESTATE
When a bankruptcy is filed the person filing is called the Debtor. The filing creates an estate called the bankrupt estate, and all of the Debtor’s property is placed in this estate and the Property of the Debtor Protected. This property includes all the Debtor owns or is entitle to receive. The property is protected by a stay in order to allow the creditors to recover what the Bankruptcy Code allows in a fair and reasonable way rather than allowing the creditors to attach the property in a piecemeal fashion. This also allows the Debtor to get a fresh start free from debt.
PROPERTY EXCLUDED FROM THE ESTATE
SEC. 207. [42 U.S.C. 407] (a) The right of any person to any future payment under this title shall not be transferable or assignable, at law or in equity, and none of the moneys paid or payable or rights existing under this title shall be subject to execution, levy, attachment, garnishment, or other legal process, or to the operation of any bankruptcy or insolvency law.
(b) No other provision of law, enacted before, on, or after the date of the enactment of this section, may be construed to limit, supersede, or otherwise modify the provisions of this section except to the extent that it does so by express reference to this section.
Call bankruptcy lawyer C. Stephen Gurdin Jr. at his Wilkes-Barre office today at 570.826.0481, toll free at 800-221-0618, fax 570-822-7780, email Stephen@gurdinlaw.com to schedule a free consultation.
Regular Office hours 2:30 and 7 p.m. Monday through Friday by appointment. * Earlier appointments available upon request.