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Will I Lose All of My Property During Bankruptcy?

Many people refrain from taking advantage of the protection bankruptcy may be able to offer due to an unsubstantiated fear that filing for bankruptcy will cause them to lose all of their property and valued assets. While Chapter 7 bankruptcy can involve the liquidation of an individual's assets for the purpose of helping an individual get his or her delinquent debts paid off, this does not mean that you will lose all of your property if you choose to file for bankruptcy. State and federal laws offer a number of exemptions to people who choose to file for bankruptcy.

A certain portion of the equity in your home, your family vehicles, furniture, clothing, children's toys and other items may all be eligible for either state or federal exemption. Checking and savings accounts, retirement accounts and other accounts might also be exempt from liquidation during bankruptcy. If you are considering filing for bankruptcy, you are probably wondering where you can find an Indianapolis bankruptcy attorney who will aggressively advocate for the protection of your property and rights. The lawyers at our firm have a comprehensive understanding of bankruptcy laws and are well-versed on the exemptions available to those seeking bankruptcy protection.

When you obtain our legal services, we will handle your case with the personalized attention to detail that it deserves. We will conduct a thorough review of your existing assets and debts, discuss your objectives and the results you hope to attain, advise you of the options available to you and help you determine the course of action best suited to your needs. With our firm, you can trust that our attorneys will work with you closely to help you maximize the homestead, personal property and general intangible exemptions for which you may be eligible to claim.

Contact Jackson & Oglesby Law LLC right away to get started.