Bankruptcy could mean a whole new start, but before that can happen, you may have to suffer some loss – property may be sold off to pay some of your debt. But, some of your assets are exempt under the bankruptcy code.
When you file for bankruptcy, you will make a list of the items you wish to claim for exemption. Along with the list, include a description of each item you are claiming, exactly what law you feel entitles you to do so, and what you have determined to be the current market value of the item. Of course, your Parker bankruptcy attorney will help you make these determinations.
Bankruptcy exemptions can vary. There are federal stipulations in place, but some states have chosen to impose their own laws pertaining to bankruptcy exemptions. The Parker bankruptcy attorney representing you will know the Colorado law. Call Parker Lawyers today to consult with experts on the subject of bankruptcy: 303-841-9525.