Asset Protection

Although Chapter 7 bankruptcy can provide you with life-changing financial relief, the system is designed to liquidate assets in order to pay your creditors. That does not necessarily mean, however, that all your assets will be liquidated. In fact, that kind of complete liquidation rarely occurs when filing. When you file for Chapter 7 bankruptcy, state and federal law provide you with “exemptions” designed to protect your assets.

In most instances, your assets can be completely protected by the exemptions that Kapnek Law Firm will apply in your case. These exemptions can be used to shield your household goods, furnishings, electronics, appliances, clothing and apparel, motor vehicles, and other commonly owned property from liquidation.

If you have assets that are at risk of liquidation in a Chapter 7, Kapnek Law Firm can help you protect them by filing a Chapter 13 bankruptcy. In Chapter 13, there is no liquidation, you simply make monthly payments according to your Chapter 13 plan.

Call 404-474-3445 or contact us today to schedule an appointment. We can help.