Boston Bankruptcy Attorney FAQs

What are exempt assets?

If you petition for Chapter 7 bankruptcy, your assets (property) will be liquidated (sold off) to cover any debts that are not discharged. Under law, some assets are exempt from liquidation. For example, you may be able to keep your car if the equity in it is less than $3,225. Your Boson bankruptcy attorney will advise you on which assets can be exempt and which cannot.

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