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San Diego now allows ?McMansions? in Chapter 7 Bankruptcy

By Michael G. Doan, San Diego Bankruptcy Attorney

For many years, it was questionable whether a debtor who filed for chapter 7 relief was able to keep expensive real estate at the expense of paying other creditors.  At least 5 cases have come down since the new laws passed in 2005 that held that such high expenses related to residences was an “abuse” [...]

Full post as published by Bankruptcy Law Network on June 25, 2009 (boomark / email).