Non- Exempt Property Archives - Get Foreclosure Help

Keeping The Non-Exempt Property In Bankruptcy

Call: 888-297-6203 Most of the people are concerned about the effects of bankruptcy on the property they owe. If you have been a resident of Florida for some time now, you will be allowed to keep the exempted property under Florida Law. A general view of the exemptions is as follows: You might keep - Personal property worth $1000. Vehicle equity worth $1000. Either equity in homestead property or an additional property worth $4000. Any other property, which does not come under exemptions, is solely left at the whim of the court-appointed trustee. The trustee takes the non-exempt [...]

Everything You Wanted to Know About Non-Exempt Property Bankruptcy

Property which isn’t protected in bankruptcy is known as non-exempt property. This doesn’t mean that you will lose everything you own in life when you file for bankruptcy. The entire purpose of bankruptcy filing is to offer a fresh start to people who have had some financial troubles. As per your state’s exemption statutes, you can protect all property listed in it as well as things you will require to maintain a home, such as: Modest amount of equity in car Household fixtures and clothes Tools needed for your profession Your retirement account As per Los Angeles based [...]