One of the things that I am most frequently asked by people when they are contemplating bankruptcy is, “How can I protect my assets when I file a bankruptcy?”  It’s a great question that is extremely important to everyone considering the bankruptcy process.  While the discharge afforded by bankruptcy is a massive benefit towards resolving your debt, many people contemplating bankruptcy are often concerned that it will come at the cost of their personal possessions and assets.  The good news is that bankruptcy provides you with extensive safeguards that can protect many of the most significant things you own both during and after the bankruptcy process.

When considering bankruptcy, it is very common to wonder where the path of pursuing a bankruptcy filing ultimately leads and how you will navigate the process of arriving there.  For many, bankruptcy is a new concept that lies outside of prior life experience and represents a brand new avenue through which we can address the challenges of overwhelming debt.  However, you will not walk this path alone.  Our firm has one mission, one single purpose, and that is to be there with you every step of the way as you walk through the journey of bankruptcy and leave the burdens of overwhelming debt behind you permanently.      

When filing for bankruptcy, regardless of whether you are pursuing a Chapter 7 or a Chapter 13 filing, one of the first things your attorney will assist you with is creating a budget that will be filed with the court.  This budget serves several purposes related to the bankruptcy, including determining the size of the payments that would be made in a Chapter 13 filing and helping to demonstrate eligibility for a Chapter 7 filing when viewed in conjunction with projected income.