Keeping Your Property In Bankruptcy
You want to get out of debt, but you do not want to give up all of your property. You may have heard horror stories about people who lost all their property in the bankruptcy process. In reality, most people have to give up little or no assets when they file for bankruptcy. At Dezenberg & Smith, Attorneys At Law, we take pride in helping people overcome debt without having to give up their home, their vehicles and their other property.
There Is More Than One Kind Of Bankruptcy
When people think about liquidation of assets, they are thinking about Chapter 7. In rare cases, this type of bankruptcy does require that certain assets be sold in order to pay off debt. However, there are many exemptions, and with a skilled lawyer who is well-versed in the use of these exemptions, people rarely lose significant amounts of property.
Additionally, Chapter 7 is not the only bankruptcy option. Chapter 13 is a type of bankruptcy that does not require the liquidation of assets. In Chapter 13, you can create a plan to pay off your debt based on your income.
The attorneys at Dezenberg & Smith, Attorneys At Law, have more than 33 years of experience in providing bankruptcy services to people in Huntsville and the surrounding parts of Alabama. They know the ins and outs of bankruptcy, and if keeping your property in bankruptcy is a priority, they will know how to do it if possible. Our attorneys will offer honest and realistic guidance about all of your options.