Best Bankruptcy Lawyers in New Haven, CT

If your contributions have been within the annual tax code limits IRAs will be protected from the trustee up to a substantial sum. The Supreme Court has held that IRAs that have been inherited are not exempt under federal bankruptcy exemption laws. Whether your IRA is protected can be assessed by a Connecticut bankruptcy lawyer who is knowledgeable and experienced in the practice of bankruptcy law.

Absolutely. Of course bankruptcy affects your credit score, and will make a new mortgage very expensive for a time. After you have reestablished credit and a record of steady income you are likely to be able to obtain a new mortgage at a competitive interest rate and cost. For some federally backed mortgage programs you may have to wait a certain period of time after a discharge in bankruptcy before you can be considered for a mortgage, but after that the bankruptcy should have no bearing on your ability to qualify for such programs.

Such action by the trustee would be extremely unusual. Bankruptcy requires you to disclose assets in your schedules and in your testimony under penalty of perjury. While the trustee will require various documents to confirm the assets you own and their values, the trustees for the most part rely on your honesty in such disclosures and do not view your possessions at your home.

Two important sources are the websites of the United States Bankruptcy Court for the District of Connecticut and the website of the Office of the United States Trustee.