What Do I Get to Keep In Bankruptcy

What Can I Keep in a Bankruptcy?

Helping You Understand What’s on & off the Table

People in debt are often worried about filing for bankruptcy in Phoenix because they are afraid of losing most of their properties. This is a common misunderstanding: You may be surprised to learn that you can keep much more than you think.

This will vary by circumstances, so it is important that you sit down and discuss the details of your debt with an experienced bankruptcy attorney. At our Phoenix bankruptcy firm, our team at the Law Office of Harold E. Campbell P.C. can go over your exempt property and explain what you can expect.

Contact us online or call (480) 568-2333 for more information and to learn more!

Property You Can Keep after Bankruptcy

  • Home: You can claim an exemption on the equity of your home for up to $150,000.
  • Personal property: Items such as household furniture, appliances, clothing, furnishings, books, and many other personal belongings. Most of these items do not hold much value when sold and are needed on a daily basis, which is why you are able to keep most of your personal properties.
  • Retirement accounts and pensions: You may be able to claim exemptions for your benefits, employer/employee contributions, annuities, and other pension accounts.
  • Benefits or proceeds: Exemptions may be available for life insurance proceeds, child support or spousal maintenance payments that you receive, as well as disability and accident benefits.

Exemptions vary by state. If you have not lived in Arizona for 24 consecutive months, your exemptions may be different. Talk to an attorney about your specific situation and what you may be able to keep.

Bankruptcy does not have to be scary. It is an honest solution that has helped many debtors free themselves from mounting debt. Our team can guide you through the entire process and break down everything in detail for you.

Get started today with the Law Office of Harold E. Campbell P.C. by contacting us online or calling (480) 568-2333 for more information.

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    Harold E. Campbell

    Attorney

    Harold E. Campbell graduated from the University of Arizona Law School in 1977. He has been practicing law for over 40 years . He is a certified bankruptcy specialist by the State Bar of Arizona.
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