Filing for bankruptcy helps individuals and businesses protect many of their assets. This enables you to hold on to what is essential while reattaining financial stability.
Exemptions
Westchester County bankruptcy law allows you to exempt certain assets from being seized by creditors in bankruptcy. Some exemptions may include:
- Home
- Car
- Personal Property
Additional Assets Protected Through Bankruptcy
Depending on your specific circumstances, bankruptcy may enable you to keep additional assets, including:
- Retirement accounts and pension plans
- Tools of the trade (e.g., tools or equipment for your profession or business)
- Public benefits
- Life insurance policies
- Disability benefits
Automatic Stay
When you file for bankruptcy, an automatic stay goes into effect. An automatic stay prohibits creditors from taking actions to collect your debts, garnish wages, or seize your property.
Westchester County Bankruptcy Litigation Experts
At Todd Cushner & Associates, our bankruptcy lawyers have helped individuals, families, and businesses throughout Westchester County successfully navigate bankruptcy. Contact us today for your free consultation.
