No, You Won’t Lose Everything In Bankruptcy
Regardless of whether you file for Chapter 7 or Chapter 13, there are different kinds of exemptions you can claim. In essence, exemptions allow you to protect certain kinds of property and assets, including your car, that might otherwise be included in your bankruptcy estate and liquidated to pay a portion of what you owe to your creditors.
Under both Chapter 7 and Chapter 13, it is possible that some of your real and personal property could be liquidated to pay all or a portion of what you owe; claiming applicable exemptions can protect items that might otherwise be seized.
At the law office of Lewis & Monroe, PLLC, we work closely with individuals, couples and businesses filing for bankruptcy in Orlando, Florida. Offering more than 30 years of combined experience handling bankruptcy matters, we will evaluate your financial situation in order to determine what exemptions you can claim.
For more information about filing for bankruptcy and any exemptions that might apply in your case, contact us today to schedule a free consultation.
Bankruptcy Exemptions In Central Florida
Understanding and claiming exemptions can be complicated. If you are considering filing for bankruptcy, consulting with an experienced bankruptcy lawyer can greatly assist you in preparing your bankruptcy petition and avoiding mistakes. While not an exhaustive list, the following represents some of the exemptions that can be claimed:
- Constitutional homestead exemption
- 401(k) savings
- Pension plans
- Prepaid school tuition
- Workers’ compensation
- Social Security benefits
- Supplemental Security Income
Consult An Experienced Bankruptcy Attorney
Calculating and claiming exemptions can be extremely complicated. In order to avoid mistakes that could result in your bankruptcy petition being dismissed, contact a bankruptcy attorney from Lewis & Monroe, PLLC, today at 407-917-4147 to schedule a free consultation to discuss your case.
We are a debt relief agency. We counsel clients according to federal bankruptcy code.