Bankruptcy Doesn't Mean Losing Everything You Own
An exemption in bankruptcy is property or money that you are permitted to keep under certain conditions and can avoid the liquidation process of being sold off to your creditors. Bankruptcy is intended to be a tool to help people get back on track and rebuild, not a destructive force that leaves you with nothing.
At the Law Offices of Farnsworth Mortensen, PLLC, of Tucson and Mesa, we can help guide you through the bankruptcy process and work to ensure that you protect all you rightful property. We are a highly experienced legal team made up of attorneys, paralegals and support staff that have been working together for years, and in some cases decades, to help Arizona families succeed.
What Property or Income Can Be Exempted?
Many of our clients fear that Chapter 7 and Chapter 13 bankruptcy will leave them with nothing but the clothes on their back to rebuild from. The reality is that many people are able to protect their most prized and important property from being sold off. The key is to work with someone you can trust to put your needs and support first.
Exemptions from bankruptcy can often include:
- Your home
- Your car
- Your retirement accounts
- Certain insurance policies
- Furniture
- Work related property
- Government benefits such as workers' compensation or unemployment
- Pensions
- IRAs
Bankruptcy is not a one-size-fits-all process. When you are dealing with significant debt problems, you need a team on your side that will help you build a custom strategy that matches your individual needs. We fully review your case and help you take the right action to keep the property that is most important to you.
Find Out What You Can Protect
We know even talking or thinking about bankruptcy can be difficult, and we never push our clients into a process that isn't right for them. Before you decide, call 480-820-3600 or 520-298-3300 or contact our experienced team online to set up a free consultation to discuss with a lawyer what options are open to you.
