How To Keep Your Property During Bankruptcy
Many people believe filing for bankruptcy will cause them to lose their cars, their homes and all their personal property. This is a myth.
Federal and state bankruptcy laws “exempt” certain properties, safeguarding them during the bankruptcy process. As a result, many people are able to keep most, if not all, of their assets.
Located in Rogers, the attorneys at Hatfield Harris, PLLC, have been helping people protect their properties and eliminate their debts for more than 20 years.
Together, we will get you the clean slate you deserve, while protecting the properties you value.
Protect Your Property, Eliminate Your Debts
State and federal bankruptcy property exemptions protect most properties during bankruptcy. In general, you will be able to keep (up to a certain value) the following:
- Your home
- Your car
- Tools of the trade
- Household goods and jewelry
- Life insurance
- Disability benefits
Filing for bankruptcy will also stop wage garnishments, prevent repossession and can stall the foreclosure process.
At Hatfield Harris, PLLC, we use bankruptcy to help people eliminate their debts and regain control of their finances while safeguarding their assets.
Retirement Accounts Exempt During Bankruptcy
Many people cash in their retirement accounts in an attempt to pay off their debts. This is a mistake. Under Chapter 13, you can eliminate your debts while keeping your retirement savings.
Don’t wait until it is too late. Consult with an Arkansas bankruptcy lawyer before liquidating your retirement accounts.
There is a way to keep your property during the bankruptcy process. At Hatfield Harris, PLLC, we can help. Contact our law office today at 479-250-1962. We offer free consultations and flat fees.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.