What are Bankruptcy Exemptions?
The purpose of filing for bankruptcy is to achieve debt relief in order to rebuild a sense of financial security. It is nearly impossible to do so if everything you own is taken from you during bankruptcy. Many people assume that you must lose everything including things such as your finances, your home, and your car when you file, but this is not true. According to the United States Code §522, a person who files for bankruptcy may request certain exemptions, including interest on home loans and vehicles, any life insurance policies that have not yet matured, and other such assets.
About the Exemption Process
In order to have certain possessions qualify for immunity when filing Chapter 7 bankruptcy, you must claim bankruptcy exemptions when you file. This process is very specific and detailed, requiring you to list each item, its value, and any relative laws regarding its exemption. It is vital that you hire a knowledgeable lawyer to ensure that you fill out all of the necessary forms correctly and in a timely manner.
This is all extremely important to the success of your case and also so that you may keep legal possession of a certain property after bankruptcy. At Cherney Law Firm LLC I have handled thousands of cases and can help you claim exemptions during your bankruptcy process. Learn how I can counsel and represent you by calling my firm for a free consultation.
Hire a Marietta Bankruptcy Attorney
As a skilled Marietta bankruptcy lawyer, I have personally handled more than 2,000 cases since 2006. If you are looking for a caring attorney who will guide you step-by-step through the bankruptcy process, call today and speak with me in person. Through a free case evaluation, I can inform you of your legal options and help you get started on the path to financial freedom. The longer you wait, the more difficult your financial situation will become, so contact my firm today to gain the info you need to claim exemptions during your bankruptcy!