We know how hard you have worked for everything that you have. Those household luxuries that most take for granted mean so much more than their material cost. They are comfort and memories. This is especially true for those who are suffering from overwhelming debt.
Many hold back from filing for bankruptcy because they believe that they will lose assets when they file. They worry that all of those creature comforts are going to be stripped away. This just is not true. There are Federal and State Statutes that are put in place to protect you from losing all of your assets.
These Statutes cover a wide variety of assets up to certain dollar amounts. These assets can be material goods such as household goods and furnishings, cars, tools of the trade, or clothing and jewelry. These assets can also be accounts such as retirement accounts, HSA's, or life insurance.
If you are worried about the status of your assets during a bankruptcy the best thing to do is to speak to a Kain & Scott attorney. Our experienced bankruptcy attorneys have filed thousands of cases and have fought for and protected assets for their clients in every one of those cases!
Most people who file for bankruptcy do not lose any assets during the process. While, yes, there are exceptions and assets that are non-exempt, a Kain & Scott attorney can help to work with the Bankruptcy Estate and Bankruptcy Trustee to help sort through any bumps!
Bankruptcy is a relief option for those struggling with overwhelming debt. It is an option that many are unaware actually protects the majority of your assets where other debt relief options do not!
For answers to your questions about how assets and exemptions work, contact your Kain & Scott attorney. They will work to make sure that the assets that you’ve worked so hard for are protected to the best of their ability.
Conclusion
Visit www.kainscott.com to learn more about the bankruptcy process. From there, you can also schedule an initial consultation with MN’s OLDEST bankruptcy law firm and get your life back!
