Bankruptcy Exemptions in Goodyear

1. Bankruptcy Exemptions in Goodyear Chapter 7 bankruptcy exemptions tell you what property you get to keep when you file for bankruptcy in Goodyear. Bankruptcy exemptions apply to your home, car, and other property. Exemptions in Chapter 13 bankruptcy work a little differently. In Chapter 13 Bankruptcy, your property is never at risk. Phoenix Fresh Start Bankruptcy Attorneys Bankruptcy Exemption Systems Each state has a set of exemptions that apply in bankruptcy. Some states allow filers to choose from either state or federal exemptions depending on what is best for them, but Arizona is not one of those states. How Bankruptcy Exemptions Work If your property is worth less than the amount of the allowed exemption, cha-ching, you get to keep the property. If your property exceeds the allowed exemption amount, the bankruptcy trustee may take the property and sell it to pay your creditors. However, things are a little more complicated than that which is why you want to speak to bankruptcy attorney. Contact Phoenix Fresh Start Bankruptcy If you do not understand how exemptions work, you could lose the property you love. We have payment plans for every situation. Contact us for a financial evaluation. 2990 N Litchfield Rd, Goodyear, AZ 85395, USA 623-404-2476 phoenixfreshstartbankruptcy.com