How Do I Keep My Property While Filing For Bankruptcy?
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How Do I Keep My Property While Filing For Bankruptcy?
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The Bankruptcy Code provides exemptions for a debtor’s property. In a nutshell, this means that a debtor has, at least, a limited right to shield his or her property from their creditors. This includes the right to protect your household goods and furnishing, wardrobe, vehicles, retirement plans, as well as your house.
There are differences between Chapter 7 and Chapter 13 bankruptcies for consumers-and there are exemptions in each particular Chapter.
Bankruptcy exemptions are not unlimited. Because they are not unlimited, bankruptcy can often require precise planning-when to file, and which exemptions to claim, depending on what your overall debt relief goals are.
Contact Corey Carpenter:
Carpenter Law Website: https://mycarpenterlaw.com
Email: coreycarpenter@mycarpenterlaw.com
Call or text: (248) 327-7817