Frequently Asked Question

What can I own after bankruptcy?

The short answer is anything. In addition to exempt property, you can keep whatever you obtain after filing for bankruptcy. That being said, if you receive a large amount of money or other property within 6 months of filing (e.g., an inheritance, proceeds from a life insurance policy, etc.), you may be required to pay it to the trustee for distribution to your creditors (to the extent that it is not exempt). Therefore, it is very important to tell your attorney if you are expecting such a distribution, so your attorney can review possible exemptions before you file.

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