Exempt Assets in Aurora, Littleton and Centennial, Colorado Bankruptcy:
One of the qualifications for filing for Chapter 7 Bankruptcy in Littleton, Centennial and Aurora is that you must surrender your non-exempt assets to pay your creditors. An exempt asset is an “asset the law exempts from that liquidation process” and does not need to be forfeited. There are certain categories that are exempt, and you will be able to keep the exempted property after you file for bankruptcy. With the help of an experienced Chapter 7 attorney, many people are able to file without having to give up any assets at all. Bankruptcy law is complicated – you need an expert on your side who can help you get through bankruptcy without giving up important property.
We hope we have answered your question: “What are exempt assets in Chapter 7 bankruptcy in Colorado?” Gaining knowledge will help lessen the intimidation of bankruptcy and get you started on your fresh start sooner. Contact experienced Aurora, Centennial and Littleton bankruptcy lawyer Barry Arrington at 303-205-7870 and he will fight to give you the best, fresh start possible.