Guiding You Toward A Brighter Financial Future

Keeping Your Assets

One of the most common myths about bankruptcy protection is that the bankruptcy court will take all of your possessions. At the Tennessee law office of Mark T. Young & Associates, we know that simply is not true. Chapter 7 and Chapter 13 bankruptcy protection provide specific exemptions and other rules that enable you to keep some, if not all, of your assets.

Determining appropriate exemptions for Chapter 7 and affordable repayment plans for Chapter 13 can be complicated. We are dedicated to guiding you through the bankruptcy process effectively to help you achieve financial freedom.

Keeping Your Assets With Chapter 7

Based on State and Federal law, each individual is allowed a specific dollar amount of assets they can keep, known as exemptions. Most people can keep all of their assets in a Chapter 7 bankruptcy; however, there are limitations.

Attorney Mark Young has been preparing and filing bankruptcy petitions for more than 30 years. His entire practice is only in the area of bankruptcy. He possesses a sophisticated understanding of state exemption laws and exemptions available under the Bankruptcy Code.

Keeping Your Assets With Chapter 13

In Chapter 13 debt reorganization, you are able to place the arrears, or back payments, for your home or car into your repayment plan. Chapter 13 protection can enable you to keep your house if you have fallen behind in the mortgage or you are facing imminent foreclosure. Chapter 13 will also protect your vehicles and other assets.

Call Us Today For A FREE Consultation

Our legal team is available to discuss your situation at 423-933-1606 or toll-free at 888-376-0282. You may also send us an email to schedule your free consultation. We are conveniently located and offer handicap accessibility, as well as free parking.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.