Every once in a while, I have a potential client ask me if they are eligible for bankruptcy since they may only have a mortgage or a car loan. Or they might be facing a lawsuit on their only major debt. Is there a minimum amount of debt needed to file for bankruptcy? The answer […]
A lot of times new clients will ask me, “Will I lose everything if I file for bankruptcy?” The short answer is no. That is because in bankruptcy you will be allowed to keep certain property using exemptions. In fact, oftentimes will not have to give up anything that you own.