What will I lose if I file for bankruptcy?

This depends on several things. First, what state do you live in - the state exemptions will allow you to keep certain property. Each state’s laws are different. Second, the chapter of bankruptcy that you file. Typically, in chapter 13, you keep most (if not all of your property) because it is more of a reorganization than it is a liquidation. If you are filing a chapter 7 bankruptcy, you should really speak with a lawyer because you can lose things if you don’t do the paperwork right. Just because the law allows you to keep something under an exemption law, if you don’t put the law in your paperwork, you don’t get it.

A poster by Ascent Law Firm offering help about Utah bankruptcy. Call 801-676-5506.

You might think that the only thing you lose when you file for bankruptcy is a bunch of money (and some of your things, if you can't keep them after the bankruptcy). But what you lose is really a lot more than that. It's very important to think about what you'll be giving up before choosing whether or not to hire a bankruptcy attorney in your area. If you need a bankruptcy attorney to give you a free consultation, call this law firm:

Ascent Law LLC

8833 S Redwood Rd Ste C

West Jordan UT 84088

(801) 676-5506

https://www.ascentlawfirm.com/bankruptcy-law-ut/ 


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