Will You Lose Your Assets During Bankruptcy?
Hearing that you may lose your home, car and other property due to debt is devastating. Your future may feel bleak and your options limited. When you don’t know where to turn, you need a skilled attorney to help you find a path out of debt.
I am founding attorney Christopher Kane of the firm Christopher J. Kane, PC. With over 23 years of experience providing debt relief solutions, I can help you move forward with confidence. In most cases, my bankruptcy clients either lose nothing or lose very little as they work toward settling their debts and establishing a stable financial future.
Bankruptcy Can Help You Keep Your Assets
Once you file for bankruptcy, any creditor attempts to repossess your car or foreclose on your home are immediately halted. While many people believe that bankruptcy will take their assets, the opposite is true in most cases.
I want to hear your story. We will work together to explore your financial situation and develop goals. Together, we may consider one of the following options:
- Chapter 7 bankruptcy allows you to retain a set amount of assets in different categories. For example, you may be able to keep your primary residence, but may have to sell a second home to help payoff standing debt. Key assets, such as a primary car, are usually protected, unless they are considered overly expensive. In that case, you may be asked to trade in your car for an non-luxury model. We can discuss which assets are a priority for you and which you might need to sell.
- Chapter 13 bankruptcy does not require you to sell any assets. You can keep all your property, but you must adhere to a regular repayment plan based on your current income. However, if your mortgage is too high and you fail to make regular payments, you could lose your house and have to relocate to a more affordable living situation. We can discuss this in further detail during your free initial consultation.
I will help you strategize how to keep your most important assets. Whether your home exceeds your income and you need a different house, or your pension and investments are your priority, I can guide you toward the right solution for you and your family.
Learn About Your Debt Relief Options Today
If you feel like you are stuck at a dead end with debt, I can help you find a way forward. Bankruptcy will not strip you of all your property. You have options to keep your home, car and other key assets. We will work together to create a long-term solution that can get you back in control of your finances.
Call 971-808-4518 to schedule a free initial consultation at my Portland, Oregon, office. You can also contact me through my quick online form. In addition to providing debt solutions, I can also advise you on the effects that filing for bankruptcy may have on your credit or your business.
My firm is a debt relief agency. I help people find bankruptcy relief through the Bankruptcy Code.