List Your Assets to Protect Them
When you come into our office and retain our services for a Chapter 7 bankruptcy, you are given some information or a packet to fill out and another appointment is scheduled for you to come into our office. The purpose of the packet for your bankruptcy attorney to find out, in an overview, what is going on in you life. What I mean by that, it will list all your debt and all of your assets. The concern that many people have when they file for Chapter 7 bankruptcy is what they are going to lose when they do file for their Chapter 7 bankruptcy.
The purpose of listing your assets is to protect what you do have. We ask that each person list their assets completely and what we do is enter everything into a program that will allow us to use either state exemptions or federal exemptions to protect your valuable items. This is why it is so important for you to not forget to list anything. Failure to do so may cause you to lose the item. The purpose of the exemptions protects all of your assets, so that the trustee doesn’t require you to sell your assets and hand over the money for the trustee to disburse them among your creditors. This is why it is so important for you to be honest and list everything. If you have any concerns, please contact your attorney’s office immediately to discuss the problem you may be having.
Please fill out our free evaluation form to determine if bankruptcy is right for you.
