When you are filing bankruptcy, people often worry they will lose their assets. Most of the time, they do not consider their pets as assets and instead, members of their family. Some states explicitly spell out what animals will be exempt from the bankruptcy process. (meaning you don’t have to include them in your assets). […]
Category Archives: Exemptions
21
Jun
Jun
Sometimes people worry they will lose their assets when they file for bankruptcy. In fact, in most cases, due to the exemption laws or the type of bankruptcy you file, you will be allowed to keep the majority or all of your assets. Different state and federal laws determine what assets are protected, or exempt […]
16
Nov
Nov
When you’re working to reduce and eliminate debt, Ohio bankruptcy filers rely on their automobiles to get them to and from work, take the children to school, and complete a myriad of other tasks and errands. An automobile is often a tool used to earn a living in order to pay off debt. When you […]
06
Jun
Jun
Can I keep my tools in bankruptcy is a fairly common question when conducting a credit counseling or Ohio bankruptcy consultation. If you are employed in an occupation that requires tools you’ll be glad to know that the US Bankruptcy Code has provisions that will allow you to keep some or all of your tools […]
30
Jun
Jun
A very little understood part of seeking bankruptcy protection is the ability to protect certain assets from being seized and sold to appease creditors. You are fully able to keep such things necessary to continue living and earning an income. This includes being able to keep an automobile (as long as it is a modest […]
16
Mar
Mar
Often individuals that are headed for bankruptcy are in a state of confusion and are very downtrodden about their financial situation. It is difficult for them to look at this as a positive solution for their financial situation. It is important that once the decision to consider bankruptcy that some pre-planning is done. By doing […]
