Choose from below

Exemptions are the laws in your particular state that protect the equity in the property that you have. They are limited; therefore, their application is complicated and requires a detailed analysis. Since the exemptions are limited, this forces many clients to consider Chapter 13 to protect all of their assets. When we do analyze your case, we assume you want to keep all of your assets unless advised us other wise.

Choose from the list below

• Property that you own and possess
• Property that you own but don't possess
• Property that you have recently given away
• Property that you are entitled to receive but do not yet possess at the time of filing
• Property acquired within 180 days of filing

Property that you own and possess: this is the type of the property that is almost obvious to us such as your house, vehicles, furniture and house furnishings, computers, clothes, jewelry and the like. All of these items are property of your bankruptcy estate. The court is going to look most closely at the title of the property. If the property is not titled in your name, then it is technically is not part of your bankruptcy estate. However, do not transfer any property to attempt to accomplish this as such an act could be considered fraud and totally reversal

Property that you own but do not possess: this might be property that is at another location but you still have the title to that property. Examples may be a security deposit held by the landlord or a vehicle that was repossessed but not sold.

Property that you have recently given away: As aforementioned, the bankruptcy does not necessarily recognize the transfer & personal property that was sold or given away within one year or real estate that was sold or given away within six years of the filing of the petition. If you are considering doing this before filing bankruptcy, don't do it! It could be considered fraud and prosecuted by the United States Trustee's Office. The risk is not worth it. Further, the bankruptcy petition will have questions in it covering these issues and if the answers are not truthful, there are sever consequences. Furthermore, the Trustee has the power to seize any of these items. Likewise, you cannot pay off creditors that are related to you or friends of yours to the determent of other creditors. You must treat all creditors the same .

Property that you are entitled to receive but do not yet possess at the time of filing: an example of this would be accounts receivable, wages earned but not paid, and possibly tax refunds.

Property acquired within 180 days of filing: an example of this would be property inherited after the bankruptcy filing, property from a divorce settlement, or property pursuant to insurance proceeds.