What assets can you keep after bankruptcy?
After you have filed for
bankruptcy, whether you chose to file
Chapter 7 or
Chapter 13, it is vitally important that you recognize and understand the bankruptcy
exemptions you are eligible for. These will vary from state to state,
but a comprehensive understanding of these is vitally important to the
successful outcome of your case. The purpose of these exemptions is to
allow you to keep those assets that are imperative to maintaining your
current standard of living.
In California, there are many different exemptions that vary depending on the specific details of your situation. For example, your homestead is exempted depending on its value, your age, and the current size of your family. Other assets that are exempted include such things as motor vehicles, food, clothing, heirlooms, and other non-physical assets, such as wages and pensions. To best understand your current situation and which of your assets are eligible to be exempted, do not hesitate to contact an experienced Orange County bankruptcy attorney to get all of your questions answered.
Why Hire a Bankruptcy Attorney in Orange County?
At The Law Office of Bruce C. Bridgman, their legal team is intimately knowledgeable with this area of the law, and has the resources you need. By giving each case the undivided, personalized attention it deserves, they are often able to assist their clients on their way to their desired outcome. Bankruptcy is a stressful, overwhelming time, but you do not have to face it alone. By contacting an attorney you can trust, you can begin your fight towards setting your life back on track once more.
Are you currently considering filing for bankruptcy? Don't waste another minute. Contact an Orange County bankruptcy lawyer from The Law Office of Bruce C. Bridgman as soon as possible.