Property Insurance. One type of policy that for most people that is actually mandatory to have is homeowners insurance when you have a mortgage. If you borrow money from the bank to purchase a home they will require the asset to be insured. For many people,â this insurance premium is built into the mortgage payment.
Adversary Proceedings in Bankruptcy. An adversary proceeding in bankruptcy is a separate lawsuit filed within the bankruptcy case. Like most lawsuits, it starts when someone (the creditor, the bankruptcy trustee, or you) files a complaint. Many bankruptcies go through to completion and discharge without any adversary proceedings. But not so in others.
However, in some cases, a trustee may file an adversary proceeding if new information comes to light after a case closes. For example, in a Chapter 7 case, any money you inherit within 180 days of your case filing is part of your bankruptcy estate and subject to court administration. If a trustee finds you received an inheritance in this time frame, he may file the lawsuit even if your case is closed.