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How Bankruptcy Can Affect Your Assets

Learn More from Our Los Angeles Bankruptcy Lawyers

If you are considering filing bankruptcy, you may be concerned about how your assets will be affected. It stands to reason that since you have worked hard to purchase your home, build your retirement plan, buy your car or acquire personal assets, you want to protect your property. It may help to know that in many cases, petitioners are able to retain much, if not all, of their assets.

At RHM LAW LLP, our bankruptcy attorneys will take the time to explain how your property will be impacted by a bankruptcy filing. Call (213) 344-0043 to schedule a consultation. 

Los Angeles Bankruptcy Law Firm

We have helped countless clients in Southern California:

We will thoroughly evaluate your situation and advise you regarding the best way to protect your property.

Chapter 7 Bankruptcy

In Chapter 7 bankruptcy, most of your unsecured debts are discharged. In exchange, property not exempt under the Bankruptcy Code is liquidated. The proceeds will be used to pay your creditors. However, it is important to understand that much of your property is exempt. As your lawyers, we will explain and work to maximize your exemptions.

Chapter 13 Bankruptcy

In Chapter 13 bankruptcy, your property is not liquidated. Your unsecured debts are rolled into a monthly payment based on your ability to pay. Your home, car and other property will remain untouched, provided you can maintain the regular payments.

Learn More During a Free Consultation

For more information about how to protect your property in bankruptcy, speak with the professionals at RHM LAW LLP. Call us at (213) 344-0043 or contact us online to arrange a complimentary consultation.

Se habla español and payment plans are available.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.

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We Make Debt Relief Easy

Committed to making the process as stress-free as possible for our clients, our Los Angeles bankruptcy attorneys and dedicated staff will handle everything for you. From filling out paperwork through getting end results, we will work to help your case run smoothly and efficiently. We serve our clients in English, Spanish and Farsi.