bankruptcy exempt assets

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The stimulus rebate should be considered an advantage?

Suppose a person had filed for bankruptcy. Do you think that the stimulus should be Rebate as an asset in his bankruptcy? This is saying. I've heard from several sources, that Bush declared that the stimulus rebate will probably be used for consumption expenditure, stimululate to the economy and not for exchange or credit payments. If the trustee took the stimulus rebate, I would as for bills and not what the money are destined for. Therefore, I believe that the stimulus should not discount as a benefit and exempt from every chapter of bankruptcy. Let me know what your options are. Feel free to refute my opionion.

wrong in this case, they think it should be used for debt reduction!

Claiming Assets as Exempt in a Minnesota Chpt 7 Bankruptcy

Insolvency test includes exempt assets.(IRS rule; discharge of indebtedness): An article from: The Tax Adviser $5.95 This digital document is an article from The Tax Adviser, published by American Institute of CPA’s on May 1, 2001. The length of the article is 713 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.Citation DetailsTitle: I…