What Property Can I Keep?
Peoria, Illinois, Bankruptcy Attorney
A common misconception about bankruptcy is that you will be forced to give up all your possessions to pay creditors. This could not be further from the truth. In actuality, if you file for bankruptcy, there is very little chance that you will lose any assets. At the law office of Charles E. Covey, Attorney at Law, we have assisted numerous clients through the bankruptcy process.
Is bankruptcy right for you? We can help you find answers to your questions and identify the steps you can take to obtain a fresh financial start while keeping your treasured and needed possessions. Contact us for a free consultation with bankruptcy lawyer Charles E. Covey.
Under Illinois law, it is a rare occurrence when an individual or a family loses anything, other than debt, in Chapter 7 or Chapter 13 bankruptcy. When it comes to keeping a house, if you are current with your payment and continue to make your mortgage payments, you will likely keep your house. Further, in nearly every situation, filers may keep:
- Household goods
- Furniture
- Appliances
- Cars/vehicles
- Tax refunds
- Retirement assets
Preserving Your Assets in Bankruptcy
Though it is likely you will be able to retain your possessions, there are legal exceptions. The best way to know for certain what, if any, assets may need to be is to consult with an experienced bankruptcy lawyer, such as Charles E. Covey. From providing credit counseling to helping people rebuild credit after filing for bankruptcy, our firm is ready to assist you.
Contact Charles E. Covey for a free consultation with a bankruptcy lawyer in Peoria, Illinois. Call us to discuss your options and alternatives for debt management and bankruptcy. We can protect your rights and your assets.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
