The Bankruptcy Alphabet: “E” is for “Exemptions”

May 11, 2012

A question I am often asked is, “will they sell everything I own if I file for bankruptcy?”  The answer to this question is “No”.  Under both State and Federal law there are allowances for property you can keep.  Those allowances are called “Exemptions”. 

For the vast majority of my clients, those exemptions are more than sufficient to protect everything a client owns.  The whole concept behind filing for bankruptcy is to give someone a fresh start.  If they took everything you have, you wouldn’t have anything left to help you get a fresh start. 

There are even strategies to help clients keep items that are worth more than the exemptions allow.  Those strategies are best chosen before the case is filed.  This is why it is very important to have an accurate inventory of your property before the case is filed.  Once the case is filed, there are fewer strategies available to address excess assets.

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  1. […] There are even strategies to help clients keep items that are worth more than the exemptions allow.  Those strategies are best chosen before the case is filed.  This is why it is very important to have an accurate inventory of your property before the case is filed.  Once the case is filed, there are fewer strategies available to address excess assets.Source: kainenlaw.com […]

  2. […] […] There are even strategies to help clients keep items that are worth more than the exemptions allow.  Those strategies are best chosen before the case is filed.  This is why it is very important to have an accurate inventory of your property before the case is filed.  Once the case is filed, there are fewer strategies available to address excess assets.Source: kainenlaw.com […]Source: kainenlaw.com […]

  3. […] For other E bankruptcy terms: Executory Contract – New York Bankruptcy Lawyer, Jay S. Fleischman Exemptions – Northern California Bankruptcy Lawyer, Cathy Moran Examination – Los Angeles Bankruptcy Lawyer, Mark J. Markus Exemptions – Omaha and Lincoln, Nebraska Bankruptcy Attorney, Ryan D. Caldwell Eviction – Philadelphia Suburban Bankruptcy Lawyer, Chris Carr Emergency Filing – Colorado Springs Bankruptcy Lawyer Bob Doig Euphoria – Cleveland Area Bankruptcy Lawyer, Bill Balena Equitable Distribution – Miami Bankruptcy lawyer, Dorota Trzeciecka Exemptions – Downriver, Michigan Bankruptcy Attorney, Christopher McAvoy Everything – Daniel J. Winter, Chicago Bankruptcy Attorney Eligibility- Philadelphia Bankruptcy Attorney, Kimberly Coleman Equity – Metro Richmond Consumer and Bankruptcy Attorney, Mitchell Goldstein Equity – Marin County Bankruptcy Attorney, Catherine Eranthe Exemptions – Metro Richmond Consumer and Bankruptcy Attorney, Mitchell Goldstein Emergency Fund – San Francisco Bankruptcy Attorney, Jeena Cho Exceptions to Discharge – Wisconsin Bankruptcy Lawyer, Bret Nason Emotion-Los Angeles Bankruptcy Law Monitor, Christine A. Wilton Exemptions-Livonia, Michigan Bankruptcy Lawyer, Peter Behrmann Expenses-Pittsburgh Bankruptcy Attorney Shawn N. Wright Exemptions-Birmingham Bankruptcy Attorney, Elizabeth Johnson Exemptions-Vermont-New Hampshire Bankruptcy Attorney, Michelle Kainen […]

  4. […] Exemptions Vermont-New Hampshire Bankruptcy Attorney, Michelle Kainen (function(d, s, id) { var js, fjs = d.getElementsByTagName(s)[0]; if (d.getElementById(id)) return; js = d.createElement(s); js.id = id; js.src = "//connect.facebook.net/en_US/all.js#xfbml=1&appId=418020904898025"; fjs.parentNode.insertBefore(js, fjs); }(document, "script", "facebook-jssdk")); Tags: Bankruptcy Alphabet […]

  5. […] Exemptions – Michelle Kainen (Vermont – New Hampshire) […]

  6. […] Eligibility Emergency Filing Emergency Fund Emotion Equitable Distribution Equity Equity Equity Euphoria Everything Eviction Examination Exceptions to Discharge Exemptions Exemptions Exemptions Exemptions Exemptions Exemptions Exemptions Expenses Exemptions […]

  7. […] Exemptions    Vermont-New Hampshire Bankruptcy Attorney, Michelle Kainen […]

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