Posted On: June 28, 2010

How do I keep my personal property in bankruptcy?

A Roseville bankruptcy attorney explains to Roseville debtors how to keep personal property in bankruptcy?

How does a Chapter 7 Bankruptcy work?

The goal of a Chapter 7 bankruptcy is to wipe out all of your unsecured debt. The way it works is: any assets that you have (such as house, cars, clothes, jewelry, furniture, etc.) which are not covered by California exemption laws (if you reside in CA) are used to repay your creditors.

What property do I get to keep in a Chapter 7 Bankruptcy?
You will get to keep all of your real property and personal property in bankruptcy IF all of the property is covered by California exemption laws. California exemption laws allow you to keep up to a certain value of your home, your furniture, your jewelry, your vehicle, etc. Your assets include both real property and personal property in bankruptcy. If you don't have too many assets, then most likely you will get to keep all of your personal property in bankruptcy. California has two sets of exemption laws. You should consult with attorney to get a better idea of whether or not your assets will be covered by the exemption laws so that you can determine whether you will get to keep all of your personal property in bankruptcy.

How does a Chapter 13 Bankruptcy work?

A Chapter 13 bankruptcy is basically a repayment plan. It generally does not involve letting go of either real or personal property in bankruptcy. A Chapter 13 repayment plan can last anywhere from three (3) years up to five (5) years, depending on your income.

What property do I get to keep in a Chapter 13 Bankruptcy?

Generally speaking, if you qualify for a Chapter 13 bankruptcy and if you make all of your plan payments on time, then you should be able to keep all of your real and personal property in bankruptcy. Consult with your attorney to determine which Chapter of bankruptcy is the best option for you.

If you have questions regarding Bankruptcy in Sacramento please contact us at (916) 492-6020 in Sacramento or (916) 724-1690 in Roseville for a free consultation or visit and we can connect you with one of our experienced Sacramento Bankruptcy Attorneys. After you have spoken with one of our Sacramento bankruptcy attorneys, we can schedule you for a free face to face appointment in an office location nearest you. Our team of Sacramento Bankruptcy Lawyers can assist you with all aspects of your bankruptcy or legal debt settlement case. If you have questions about filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, or would like to learn more about bankruptcy litigation, legal debt settlement, mortgage modification, lien stripping, cram down, stopping a foreclosure, wage garnishment, asset protection, discharging a debt, etc. we can help! We have bankruptcy attorneys located throughout California and Oregon who can assist you with all of your debt resolution questions. Please feel free to complete our free online bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy. We look forward to hearing from you, Sacramento and Roseville!

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If the courts do not accept your bankruptcy filing because of an error on our part, we will refund 100% of your money, including the filing fee!

At Sagaria Law, PC we want to guide you on the path to financial freedom and realize this is not an easy task for most. We respect your devotion to better your circumstances even with financial hardship and thus are willing to guarantee that if you retain us, we will do everything we can, legally and ethically, to help you become debt-free.

The Fine Print

The Sagaria law guarantee covers everything that a bankruptcy law firm produces in order to successfully complete a bankruptcy filing. We guarantee that it will be done in a manner that is accepted for filing with the bankruptcy clerk's office.

There may be reasons beyond our control that may cause a case to be dismissed. Therefore, the 100% Money-Back Guarantee does not guarantee;

  1. That you will receive a discharge.
  2. That you will receive a discharge of all debts or of any particular debt.
  3. That your case won't be dismissed for reasons not related to the paperwork being accepted for filing.
  4. That you, our client, will successfully complete all of your obligations including accurate disclosure of debts, completing your forms on time and attending your 341 meeting as scheduled.
  5. That you will not lose assets in chapter 7, or that creditors won't successfully argue for the repossession of collateral in chapter 13.
  6. That you will not encounter challenges of any kind to your bankruptcy case.

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