Local Law Firms Home > Bankruptcy Overview > Chapter 7 > Non-exempt Property: Financial Resources When it comes to a valuable financial resource such as stocks, investments, or just cash, it is usually the first thing that creditors will go after when a debtor declares Chapter 7 bankruptcy. It is highly classified as non-exempt property, because nothing is easier than satisfying debts than to simply recover any available funds that may be considered excessive beyond the necessary funds needed to survive. This type of property is the easiest for any collection agency or creditor to collect because there is no selling involved. If you are in debt and contemplating Chapter 7 bankruptcy, the last thing you need is for these financial resources to be stripped of you. After all, it is monetary difficulties that are leading to your contemplation of a Chapter 7 bankruptcy declaration to begin with.
If you are in debt and considering filing for Chapter 7 bankruptcy, and you have a substantial amount of cash, investments, or other financial resources, it is absolutely crucial not to make any decisions before consulting with a bankruptcy law attorney. Our bankruptcy law attorneys may be able to explore your unique case and find you other feasible options that are ideal for protecting your hard-earned assets, money, and investments. Did you know? If you already filed for Chapter 7 bankruptcy and you have a large amount of financial resources, such as cash or investments, it is not too late to take action to protect your assets. Contact one of our lawyers today.
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