What Can I Keep After Bankruptcy?
Protecting Your Assets and Property in Bankruptcy
When a client asks us, "what can I keep after bankruptcy," we understand the fear involved. Many people are afraid that filing for bankruptcy will automatically result in their home and car being sold. Some are afraid that they will lose their life savings and their retirement accounts.
There are some specific facts about Colorado Bankruptcy Law that you should be aware of. Our state's bankruptcy exemptions protect $60,000 of value in your home and $5,000 in your car. There is a $2,000 exemption for jewelry, $3,000 for household furnishings and $20,000 in business tools of trade per person.
Some are afraid that they will lose their job or eligibility for student loans. This is not the case. It is against the law to fire you or discriminate against you if you file for bankruptcy. Most people have bought into the idea that filing for bankruptcy means losing the ability to obtain a loan or credit of any kind for an extended period. In fact, many people have been able to get a car loan within days of filing or completing the 341 bankruptcy hearing.
Attorneys Helping You Understand What You Can Keep After Bankruptcy
Depending upon whether you file for bankruptcy under Chapter 7 or Chapter 13, you may be able to keep your house, your car and other personal and business assets while still obtaining real relief from crushing debt. Instead of focusing on what you can keep after bankruptcy or what you may lose if you choose to file, turn your attention to what you will gain when you no longer have to worry about creditors showing up on your doorstep or a bank threatening to foreclose on your home. Think about the peace of mind you will gain.
At the Denver law firm of Greenwald & Hammond, our team of experienced bankruptcy lawyers help individuals and families in metro area communities like Aurora, Lakewood and Arvada seek real debt relief under the Bankruptcy Code. We can answer your questions about what you can keep after bankruptcy and what debts are dischargeable under Chapter 7 and Chapter 13 in a free initial consultation. Contact us today.
We are a debt relief agency. We help people file for bankruptcy protection under the Bankruptcy Code.