How Can Bankruptcy Exemptions Help You On The Road To Financial Recovery?
Bankruptcy exemptions are available to save things like your home and car. Watch this video by Bankruptcy Lawyer Michael F. Barrett for guidance. If you have questions about your particular situation and what options are available for debt relief, contact us to schedule a consultation. Let our bankruptcy experience work for you.
A big concern for my clients who are contemplating bankruptcy is whether or not they’ll be able to keep all – or at least most – of their property. Thankfully, due to certain parts of the law known as bankruptcy exemptions, they will be able to save most of their property following bankruptcy. Common exemptions will protect their equity in a house, equity in a vehicle, and household items such as furniture, appliances, clothing, electronics, television, computer, and cell phone. The full value of their retirement funds is also protected. In some instances, too, cash and other cash equivalents – such as cash in bank accounts, tax refunds owed to you that you haven’t yet received, and other financial assets are also safe.
- Clients contemplating bankruptcy wonder whether or not they’ll be able to keep their property.
- Certain exemptions allow them to save most of their property following bankruptcy, including their equity in a house and vehicle, as well as furniture, appliances, clothing, electronics, television, computer, and cell phones.
- Retirement funds are also protected, and, in some instances, cash and other cash equivalents and other financial assets are also safe.