Will I Lose My Assets?
Deer Park Bankruptcy Attorney
At my firm, Dennis M. Slate, Attorney at Law, lawyers utilize a combined 29 years of experience to do everything legally possible to protect your assets. Thousands of my firm's clients have been helped with both the bankruptcy process and alternatives to bankruptcy including loan modifications, debt settlement actions and debt consolidation. I believe that your best interests must be safeguarded at all costs, regardless of the procedure you chose to pursue. This includes applying bankruptcy laws towards seeing that you can retain your valued assets.
Once you have answered the question of "Is bankruptcy right for me?" I will inform you of the differences between Chapter 7 and Chapter 13 bankruptcy, Texas vs. Federal exemptions, how we can stop repossessions and foreclosures and determine which chapter you should file, if appropriate.
There are a number of exemptions that can be applied when it comes to filing for bankruptcy. These include homestead property, a motor vehicle, household furniture, jewelry, tools you need for your trade, life insurance, retirement benefits, plus more. There are certain monetary limits involved for most of these exemptions, so please be sure to consult with a Deer Park bankruptcy lawyer from my firm for confirmation regarding what assets are safe, and those that might be at risk.
State Bankruptcy Exemptions
Our state allows an individual to choose whether they would like to use Federal or State exemptions. Typically, the state exemptions are more generous which can be an advantage to those concerned about losing precious assets, having a home to live in and having a vehicle to get to work and back with. In terms of preserving your assets and in comparison with other states, Texas bankruptcy law can greatly benefit those faced with the decision to file for bankruptcy.
Find out more about protecting your assets during the bankruptcy process by contacting a Deer Park bankruptcy attorney from my firm.