Protecting Your Property from Bankruptcy

Information on Bankruptcy Exemptions

If you have considered filing for bankruptcy, you may be hesitating because you have heard that you will have to give up a large part of what you own in order to satisfy your debts. Faced with the prospect of starting over with nothing, you may have decided that it wouldn't be worth it and have continued to struggle on. You need to know that federal and state bankruptcy laws provide for a wide array of exemptions that you can use to protect yourself from losing any more of your possessions than necessary. Our legal team can explain how this will apply to your unique situation and help you take full advantage of every applicable exemption.

Bankruptcy law is intended to allow a debtor to get out from under the burden of unsustainable debt and make a fresh start. The exemptions are designed to give you a chance to maintain a decent standard of living and not have to part with possessions that are important to you. There are often differences between federal and California state exemptions, and your attorney can help you choose the ones that will benefit you the most. Your attorney can also represent you during the meeting of creditors if you are filing Chapter 7 bankruptcy, where your creditors will have an opportunity to challenge any exemptions you claim.

Exercise Your Legal Rights

An attorney from Price Law Group will work to keep your personal property from being included in the bankruptcy estate and liquidated to pay your debts. By exercising your legal right to these exemptions, you may be able to reach the end of your bankruptcy with the greater part of what you own still in your possession. It is important to examine this issue with your attorney before you take any action to file bankruptcy. Contact our firm today!