Loss of Property
in Roanoke, VA
Avoiding Loss of Property With the Help of Wilson C. Pasley, PLC
Are you trying to avoid loss of property in Roanoke, VA? If you are considering filing for bankruptcy, you may be wondering if you are going to sustain losses of property. Residents throughout Roanoke, VA, and surrounding areas do not have to worry. Wilson C. Pasley, PLC Attorney at Law has good news! You do not have to worry about losing everything you own. There are options available to you that can ensure you will not lose any property. To learn more about your options, schedule a consultation with us today. Call (540) 266-1545 or contact us online.
Filing Chapter 13 or Chapter 7 Bankruptcy in Roanoke, VA
Filing for Chapter 13 bankruptcy or Chapter 7 bankruptcy can save most, if not all, of your property. Filing Chapter 13 bankruptcy creates a repayment plan, in which you can keep all of your property. This includes your house and vehicles. If you file Chapter 7 bankruptcy, you may have to give up some assets. However, state exemptions protect many of your other assets. Some exemption amounts for 2021 include:
- $5,000 (plus $500 for each dependent) under the homestead exemption
- $1,000 for your clothes
- $5,000 for your furniture or other household furnishings
- $5,000 for family portraits and family heirlooms
- $3,000 for firearms
- $10,000 for tools of your trade
- $6,000 for one or more motor vehicles
- Unlimited amounts for personal injury settlements or contributions to retirement accounts
If you are considering filing for bankruptcy, it is important to consult an attorney right away. The above exceptions can change from year to year, along with other pertinent information. It is best to contact us as soon as possible for up-to-date information.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code. The services or benefits for bankruptcy provided by this law firm are with respect to bankruptcy relief under the Bankruptcy Code.
Contact Wilson C. Pasley, PLC Attorney at Law Today
Worried about loss of property when filing for bankruptcy? Do not fret. Filing bankruptcy is an important decision. You do not have to do it alone. Wilson C. Pasley, PLC Attorney at Law is here to help you every step of the way. We can review your financial situation together and come up with a solution together. Our goal is to look out for your best interest in every situation. Contact us today.