Because of all of the misconceptions about bankruptcy, all too many people think they will lose all of their property when they file. While it is true that a Chapter 7 proceeding can result in the liquidation of assets, a Chapter 13 allows you to retain your assets while figuring out a payment plan to pay priority creditors.
Exempt Property and Federal Bankruptcy Law: What Can I Keep?
Depending on your circumstances, it is very likely that you will be able to keep most, if not all of your assets. A Chapter 13 filing, however, can be immensely complicated, and to arrive at the best resolution, it's important to partner with a lawyer who can help you put together an ideal plan for your long-term financial health.
In 20 years of focusing on bankruptcy law, I've helped hundreds of clients arrive at a place of financial freedom through bankruptcy while they've retained the assets that mean most to them, including cars and houses. Because I also have a background in finance, accounting and economics and work one-on-one with my clients, I am able to look at issues that other attorneys might otherwise overlook.
Regardless of the issues involved in your filing, I'm committed to help you keep assets while getting a new financial lease on life. I encourage you to reach out if you have any questions.
To discuss any aspect of New York bankruptcy exemptions in a free initial consultation with Nassau County attorney Scott R. Schneider, call 516-433-1555 or e-mail him here.
I am a federally designated debt relief agency. I help people file for bankruptcy relief under the Bankruptcy Code.
