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.
