What Are the Kentucky Bankruptcy Exemptions?
When filing for bankruptcy in Kentucky, it is important to know which assets are exempt from liquidation or seizure. Bankruptcy exemptions can help you keep your property and financial resources during the process. In this article, we will explore the bankruptcy exemptions available to residents of Kentucky.
Under federal bankruptcy laws, filing for Chapter 7 or Chapter 13 allows individuals to keep certain assets that would otherwise be liquidated by creditors in order to pay off debt. State law also provides additional protections for some types of tangible personal property like vehicles and household furnishings as well as certain types of income such as Social Security payments and unemployment benefits. Furthermore, Kentucky allows a debtor to choose between state-specific exemption amounts or federal bankruptcy exemption amounts when filing for chapter 7 bankruptcy.
The Law Offices of Omar Zambrano has helped thousands of people and businesses in the past to get out of debt and start over.
Our goal is to help you can find a fresh start FAST!
Schedule your free consultation today! By Calling 626-338-5505 or visiting us at 12738 Ramona Blvd Baldwin Park CA 91706
Kommentare