The foreclosure process involves both state and federal law. The complex system of law regulating foreclosures seeks to create a fair and expeditious process for both the mortgagor and the financing institution.

It is no secret that filing for bankruptcy will cause you to lose some of your assets. These assets are taken by the bankruptcy trustee to pay off debts owed. Unprotected assets, such as a tax refund, are susceptible to becoming part of the bankruptcy estate.

Many people experience financial problems in their lives. There's no doubt that this is a very difficult situation to deal with. It's a relief to know that you can always turn to bankruptcy when things get too out of control. Filing for bankruptcy can help you get a new start on life.

The basic purpose of a bankruptcy exemption is to protect certain property from creditors. As such, exemptions play a very important role in the average bankruptcy proceeding. Some people wonder whether it is more beneficial to claim exemptions under Chapter 7 or Chapter 13. The truth of the matter is that the exemption amount remains the same for both chapters. The only difference is in how the trustee treats the property. Take a further look at the exemptions offered by state law, and how they can help you stay afloat.