People often do not file for bankruptcy out of fear that they will lose all of their belongings. However, both chapter 7 and chapter 13 allow individuals a number of exemptions. This means people can keep certain items free and clear, without the value of the exempt item counting towards the amount they owe creditors. An important part of what we do is analyzing the property our clients own and determining the maximum amount and type of exemptions that they are entitled to under the law. Attorney Burke Smith and his associate Dana Ulrich have extensive experience in calculating and maximizing the exemptions claimed by their clients. You may be delaying bankruptcy because you do not want to lose a home, a car or a cherished family possession. The truth is that under most circumstances we can help you keep all of your possessions and still get rid of your unmanageable debt.
Omaha, Nebraska Bankruptcy lawyer helping clients to maximize their exemptions
Each state has their own set of exemptions and rules as to how they are applied. These exemptions are meant to protect specific types of property such as real estate, home furnishings, jewelry and retirement accounts to name a few examples. Depending on how many valuables you have and their fair market value, your exemptions may not be able to cover all of your property; however, a qualified bankruptcy lawyer can help you prioritize your belongings and work with the bankruptcy trustee so that can keep all of your assets if you so wish.
Omaha attorney Burke Smith will assess your assets and ensure that you utilize your exemptions as effectively as possible. They will listen to what your priorities are and will work to help you keep your property through the bankruptcy process. Contact our office today for a free consultation.
Lawyers getting the most from bankruptcy exemptions so that Nebraska residents may keep their property
If you are filing for bankruptcy, chances are you are feeling overwhelmed by your level of debt. You may be filing bankruptcy over credit card debt. It is also possible that you may need to discharge medical bills or you may need to stop a wage garnishment. We will help you come out of this time of stress in a stronger position, ready to capitalize on your fresh start. After your initial consultation we will begin gathering the necessary information for your case. We will also make sure you understand each step of the process while working to stop harassment from debt collectors. Once you call, Burke will help simplify your life and take care of the legal headaches. Call our Nebraska office today.