Most people file a chapter 7 bankruptcy. In a chapter 7 bankruptcy the trustee may claim some of your stuff.

There are two sets of exemption we can use in "state" and "federal".

The "state exemptions" protect (generally) $450,000 of equity in your home; $5000 of equity in one car; $11,250 of household goods; $3,062.50 in wedding rings exchanged at the ceremony; tools of trade of $12,500 ($13,000 for farmers); three-fourths of wages due but not paid; Social Security benefits; and (in a bankruptcy context) $1,512,350 of 401(k) or IRA accounts. There are some other exemptions that aren't as common. The homestead exemption is single or joint; the others are per person.

I came across a program that will help some people save money on their monthly internet bill.

Internet access seems like a necessity these days, but what with inflation hitting all of us, it sometimes seems out of reach.

The "Affordable Connectivity Program" will cover $30 of your internet bill (higher on tribal lands). I happen to have Spectrum internet at home, and everytime I log on there is a banner at the top saying that I might qualify for a monthly discount.

You have an outstanding bill. Or you have a bunch of outstanding bills. But you don't have enough money to pay, and the creditor has turned it over to collection. You ask to set up a payment plan, but the collector refuses.

What happens next? Generally, after a several months of collection calls and letters, you get a letter from an attorney that says something like "We are ABC Lawyers. We have been hired by Discover Card to collect an account you owe them. They tell us you owe $5,315.00. If we do not hear from you within 30 days we will assume that this is valid." This letter is sometimes called the mini-Miranda letter (like the Miranda warning in police shows (You do not have to say anything...). If you have a genuine dispute with the debt, now is the time to write and dispute the debt. A phone call probably won't do the trick.

In a small piece of good news for people who need to file bankruptcy, the value of items you can claim as exempt in bankruptcy under the federal exemptions increased as of April 1, 2022.

I recently came across another case that reinforces the importance of

being accurate when you fill out your bankruptcy papers. For background, when you file bankruptcy, you must complete a list of assets, and give values. Then you must sign the papers "under penalty of perjury". By doing so, you swear that everything in them is true, including that your forms are a complete listing of all of your property, income, and debts.