There are many rumors that surround bankruptcy filing. Consumers believe the bankruptcy court or trustee will show up at their homes, ready to conduct a sale of goods. Consumers worry about equity in their homes, if they have it, or losing a cherished family heirloom that ultimately has more sentimental value than monetary value that is attractive to the bankrutpcy trustee.
Discuss the valuables you own with an attorney who will run an analysis for you based on actual debts, actual income and actual values of items you own. There is usually a fee for this analysis, however, it will provide you with a clear picture of your options or pitfalls, which will tell you whether a bankruptcy filing is appropriate for your personal situation.
Disclaimer: This blog is for informational purposes only and does not establish a client-attorney relationship. Consult with an attorney before taking action on any information found herein as individual circumstances may affect the applicability of information provided. Call The Law Office of Michael Riley at 508-405-0831 with any questions.
