Bankruptcy Exemptions: Property You Can Keep
What Can I Keep if I File Bankruptcy?
Indianapolis Bankruptcy Lawyers Helping You Maximize Exemptions and Protect Your Property
You may have pictured it in your head already: a large truck in front of your home; strangers walking out with arms full; the bare floor staring back at you from where your bed used to be.
This is not what happens when you file for bankruptcy. One of the most prevalent myths about personal bankruptcy is that it leaves the filer with no personal assets or property. In fact, most of our clients are able to keep all of their most important property. As of 2011, Indiana property exemptions — values for property you can keep after a bankruptcy filing — include:
- Up to $17,600 per person worth of equity in your primary residence
- $9,350 worth of other personal property, including your car or other basic transportation
- All funds in IRAs, 401(k) plans or other qualified retirement plans, regardless of their value
Bankruptcy in Indiana Can Protect Many Assets and Enable a Fresh Start
The property you can save will depend on an array of unique circumstances. We have filed many Chapter 13 cases enabling Indiana individuals and families to save homes from foreclosure, for example — and numerous business bankruptcy cases that kept the filer in charge of operations.
At Redman Ludwig, P.C., we have a 30-year legacy of helping people find the best legal solutions to their financial problems. From relatively straightforward Chapter 7 bankruptcy filings to complex business reorganization or liquidation, our collaborative team brings deep experience and a spirit of innovation to each case we handle.
Learn the Truth About Debt Relief Options From Proven Indianapolis Lawyers
Please do not let fear or misinformation keep you from considering bankruptcy as a solution to your financial problems. Contact our attorneys, take advantage of a free telephone consultation and get the information you need to make the right decision for you.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.