Ask an Alabama Bankruptcy Attorney
What Will I Have Left After Bankruptcy?
Are you wondering what you will have left after bankruptcy in Alabama? Are you concerned you will lose your children's college funds or your 401k? Filing bankruptcy does not result in losing all your property and life savings. Some personal property is exempt from bankruptcy repossession. At Gina H. McDonald & Associates, in Birmingham, Alabama, we can help manage your exemptions.
If you have questions about debt relief, please contact Gina H. McDonald & Associates at (205) 453-4497.
We understand that having a large amount of debts is a major financial burden. By filing bankruptcy, you can rid yourself of this burden, while still saving your house and other property. In Alabama, you can keep property with equity up to $3000. The homestead exemption is $5000. Alabama's bankruptcy exemptions include:
- Clothing
- Furniture
- Cell phone
- Insurance
- Books
- Wages
- Pensions
- Benefits
Even if you claimed exemptions, the trustee may still take interest in them, possibly attempting to repossess some of your property to repay your creditors. We can help manage your exemptions so the trustee will not repossess them.
If you worry you will lose your furniture, your child's irrevocable trust or other possessions by filing bankruptcy, a bankruptcy lawyer from Gina H. McDonald & Associates can help. We will explain how Alabama exemptions work and help you determine what property qualifies under state law.
Contact Us To Learn What You Will Have Left After Bankruptcy
If you want to learn more about Alabama bankruptcy exemptions after filing Chapter 7 or Chapter 13 bankruptcy, contact Gina H. McDonald & Associates. We can help you receive the debt relief you deserve and save your personal property. Call us at (205) 453-4497 to schedule an initial consultation.
We are a debt relief agency. We help people file for debt relief under the Bankruptcy Code.
The following language is required pursuant to Rule 7.2, Alabama Rules of Professional Conduct. No representation is made that the quality of legal services to be performed is greater than the quality of legal services performed by other lawyers. This website is designed for general information only. The information presented at this site should not be construed to be formal legal advice nor the formation of a lawyer/client relationship.
