Wondering About Exemptions in Bankruptcy? Our Lawyers Can Help.
Serving Clients in Boston-Area Communities Such As Braintree, Quincy and Stoughton
Many people who are considering filing for bankruptcy are concerned about losing their possessions through liquidation. Our bankruptcy attorneys can provide you with knowledgeable guidance and help you keep most — if not all — of your possessions.
Keep Your Property Through Bankruptcy
In Chapter 7 bankruptcy, your assets are liquidated to pay creditors unless they are exempt. We are highly skilled at exemption planning in order to maximize the property you can keep. Under the Massachusetts and federal exemption laws, many assets are fully or significantly exempt from the reach of creditors such as:
- Your 401(K) or IRA — no matter its value
- The equity in your home
- The equity in your automobile
- Your household goods
- Miscellaneous property, including cash (up to about $12,000 in value) and other property, depending on circumstances
If you and a spouse are filing jointly, exemptions are doubled. There are many ways for you to keep your property. As a skilled bankruptcy law firm, Nashawaty & Rand can help you maximize your exemptions. You can successfully file bankruptcy, keep your possessions and eliminate your debt.
We offer free initial consultations. To schedule yours and learn what you can keep in bankruptcy, please call 781-848-8545. You may also contact us online. We can arrange evening and weekend appointments to accommodate your schedule.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
