Salt Lake City Bankruptcy Attorneys

How Bankruptcy Affects Personal Property

When considering filing for bankruptcy, what will happen to your personal property is likely a great concern. It is an important matter that should be discussed with a bankruptcy attorney in your area. Depending upon the affect that Chapter 7 or Chapter 13 bankruptcy will have on your personal property, this may affect your decision to file. At the Stone Law Firm, we offer a free initial consultation to help you get started in determining whether bankruptcy is right for you. We represent clients throughout all of Salt Lake City, Provo and Ogden and are happy to meet with you to address your concerns.

Utah Code sets forth specific qualifications regarding what property may be protected from liquidation during bankruptcy proceedings. Some of the specific items that may be protected include:

• Inheritance
• Heirlooms
• Business Property
• Jewelry
• Furniture
• Clothing

Depending on what the property is, some of it may be provided protection from the bankruptcy court from creditors, so it will not be liquidated (surrendered to the bankruptcy trustee and sold to pay off creditors) and you can instead keep it safe, where it belongs.

Bankruptcy Lawyers Serving Salt Lake City, Ogden & Provo

When you work with a Salt Lake City bankruptcy lawyer at our firm, we can take specific action to protect your personal property to the full extent of the law. The last thing you should have to worry about is losing a family heirloom or all of your personal property because your bankruptcy case was handled incompetently. We understand the importance of these items and will fight to protect them to the extent of our ability. Please contact our firm today if you have specific questions about personal property and would like more information on this topic.

Contact a Salt Lake City bankruptcy attorney at the Stone Law Firm today.