Missouri Bankruptcy Advice From an Experienced Lawyer
Bankruptcy can be a confusing topic. Many people believe they have to give away all of their possessions during bankruptcy proceedings, leaving them without a home, a car or money for necessities. Fortunately, for individuals seeking to end their debt through bankruptcy, certain assets are exempt from liquidation.
Primary residences and vehicles are generally exempt from bankruptcy proceedings. This means that you are able to maintain possession of your home and car while eliminating or reducing your debt, provided that you stay current on payments.
From my offices in Leawood, I am a bankruptcy attorney serving clients throughout the Kansas City, Missouri, metro area. To learn more about Missouri's specific exemptions, contact my office online, call 913-752-9293 or toll free at 1-888-846-0767 to schedule a free consultation.
Specific Missouri Exemptions in Bankruptcy Proceedings
Missouri offers protection for several specific assets during either Chapter 7 or Chapter 13 proceedings. These exemptions include:
- $15,000 in home equity
- $500 in jewelry
- Wedding rings
- Motor vehicles up to $3000
- Tools of your trade up to $3000
- Burial grounds
- Pensions and insurance benefits
During Chapter 7 or Chapter 13 proceedings, these and other assets are exempt from liquidation to pay creditors, meaning that you can keep these assets.
Contact Me to Learn More
Bankruptcy is an effective strategy for reducing or eliminating debt. For nearly 30 years, I have helped clients in situations just like yours find relief from the pressures of overwhelming debt, putting an end to your worries. I can help put a stop to harassing calls from creditors and work toward a fresh start.
To learn more about bankruptcy in Missouri and specific property exemptions allowed in Missouri bankruptcy proceedings, schedule a free consultation by e-mail or by telephone.
