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Posted On: February 18, 2010 by Scott Sagaria

Chapter 7 Bankruptcy

A San Francisco Bankruptcy Attorney clarifies Chapter 7 bankruptcy

It is a common belief that when you file Chapter 7 bankruptcy the court will take and sell everything you own. This is not true. When you file for a Chapter 7 bankruptcy, you can keep more of your property than you’d think, though it varies from state to state. You may even be able to keep the equity in your home!
A homestead exemption is where you can exempt a certain amount of equity in your home. This amount varies from state to state. You can also usually keep a vehicle, along with furnishings, clothing, appliances, and household goods. Plus if you own tools involved with your profession, you can probably keep those too. Other property not mentioned here can often be kept as well.

To determine how to best protect your property in a bankruptcy filing, it is best to contact a lawyer in your area. If you are in the area of one of our offices, feel free to give us a call to schedule your free consultation with one of our bankruptcy attorneys.

If you have questions regarding bankruptcy in San Francisco or bankruptcy in the greater Bay Area please contact our San Francisco Bankruptcy Attorneys at (415) 946-8882 for a free consultation or visit www.bkanswers.com and we can connect you with one of our experienced San Francisco Bankruptcy Attorneys. After you have spoken with one of our Bay Area bankruptcy attorneys, we can schedule you for a free face to face appointment in an office location nearest you. Our team of Bankruptcy Lawyers, Bankruptcy Customer Care Specialists and Bankuptcy staff supporting San Francisco and Bay Area consumers in debt can assist you with all aspects of your bankruptcy or bankruptcy litigation case. If you have questions about filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, or would like to learn more about bankruptcy litigation, legal debt settlement, mortgage modification, lien stripping, cram down, stopping a foreclosure, wage garnishment, asset protection, discharging a debt, etc. we can help! We have bankruptcy attorneys located throughout California and Oregon who can assist you with all of your debt resolution questions. Please feel free to complete our free online bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy. We look forward to hearing from you, San Francisco Bay Area!

Posted by Scott Sagaria | | Email This Post | Comments (0)

Posted In: Chapter 7 Bankruptcy , Creditors and Debt

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