Cincinnati Chapter 7 Exempt Property Attorney
In a Chapter 7 "fresh start" liquidation bankruptcy, your nonexempt assets are to be sold, or liquidated, to pay your creditors. This idea worries many people who believe that some of the assets they hold dear will be lost in bankruptcy. Bankruptcy law is not intended to punish people with financial problems. Both federal and state laws exempt certain assets from liquidation in a bankruptcy. To learn more about how filing for bankruptcy will impact your assets, it is important to talk to a lawyer.
At the law office of Gary A. Billig in Fairfield, we inform you of how to exempt valuable assets from your estate. We do everything we can to help you avoid turning over property to a bankruptcy trustee to satisfy an unsecured creditor's claims.
Notable possible exemptions could include home equity, equity in a motor vehicle, household goods and tools that you use for your livelihood. Financial assets that could serve as exemptions are retirement benefits, pensions, an insurance policy or personal injury claim.
Property exemptions are unlimited for beneficiary funds, retirement account funds, life and health insurance, living maintenance, workers' compensation, unemployment benefits, partnership property, tuition payment contracts and disability financial assistance.
Offering Skilled, Strategic Counsel in Bankruptcy
Practically speaking, if your assets are subject to liquidation in a Chapter 7 bankruptcy and you want to keep these assets, Chapter 13 bankruptcy may be a better option. You can rely on our law firm to give you the counsel and advice you need during this difficult time.
Find out what federal bankruptcy protection law allows you to keep during your Chapter 7 bankruptcy in a free initial consultation with Gary A. Billig. Call 513-275-1672 today. If your schedule limits you to an evening appointment, we can provide it.
Our southwest Ohio law firm is a debt relief agency that counsels clients according to the federal Bankruptcy Code.
