What Happens To Nonexempt Assets During Bankruptcy?
Call: 888-297-6203 Often during bankruptcy, a lot of assets are under the scanner. Especially, in chapter 7, one might end up with many assets. However, not all assets are lost. There are certain exemptions that are available to safeguard some of the necessary assets of the bankruptcy filer. These assets are known as exempt assets. These must be indicated in the bankruptcy form. The form can be amended later and the assets you wish to retain or claim an exemption can be indicated. This can be done before the creditor's meeting. Know more about bankruptcy procedures and other [...]