Have An Asset Protection Lawyer Evaluate Your Case
Bankruptcy as an option comes to mind when debt burdens become overwhelming. However, people who would clearly benefit from bankruptcy often hesitate out of fear of losing treasured assets: a home, a vehicle, tools, cash assets or family heirlooms. It is natural to be concerned about asset protection at the same time you are grappling with out-of-control debt. Perhaps you have already sold what you could sell; you may have reduced your monthly obligations, taken on a second job and negotiated with creditors. Still, the numbers do not add up and you find yourself unable to repay your debts.
Are You Motivated To Eliminate Or Reduce Debts Through Bankruptcy? Learn Which Assets You Can Keep In The Process.
This is the right time to talk to an attorney. Do not put off the conversation you need to have with a lawyer because you are worried about keeping assets. A skillful bankruptcy lawyer will take the time and put in the necessary time analyzing facts to determine and inform you about what will happen to your assets if you file bankruptcy.
It can be reassuring to know that state or federal exemptions account for many of the basics people need to avoid total devastation:
- A vehicle
- Home equity up to a certain amount
- Personal property such as the contents of a home up to a certain value
- Wedding rings
- Tools of a trade
A list of what you can keep when you file bankruptcy will go along with your list of debts and assets. Even if you must give up certain assets when filing Chapter 7 bankruptcy, you may be allowed to buy back those assets at a fraction of their value once the bankruptcy is complete.
Schedule A Free Initial Consultation With A Nashville Asset Protection Lawyer
Individual bankruptcy and asset protection scenarios differ greatly from one person’s financial situation to another. A case-specific analysis will help you know what to expect and how to protect as many assets as you can if you file bankruptcy — or if you elect an alternative debt relief solution. Contact our office in Nashville at 615-256-8300 or our office in Cookeville at 931-400-2218. You may also reach us via email to set up a time to talk to a Tennessee attorney about your bankruptcy questions.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.