The Online Bankruptcy Blog

Under Federal law, health savings plans are not protected during the bankruptcy process. In most states, if you have a health savings plan and you file a Chapter 7 petition for bankruptcy, then you will have to hand those savings over to the trustee. The trustee will then include those funds with any other property [...]

Although bankruptcy is covered by federal legislation, there are local laws in each state that also need to be addressed. One of these covers what can and cannot be included in the exempt assets component of a bankruptcy petition. There are 16 states that allow petitioners (debtors) to select either state of federal law, the [...]