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Do I Need to Have Assets to File for Bankruptcy?

Can I File for Bankruptcy If I Don’t Have Any Assets?

Have you been considering filling for bankruptcy to get relief from your debt but you aren’t sure if you have enough valuable property to qualify? This is a common question our attorneys are asked by clients, and while you might be worried, you can still file for a Chapter 7 no-asset bankruptcy.

What Is a Chapter 7 No-Asset Bankruptcy?

When you file for Chapter 7, you will be allowed certain exemptions on your property that will prevent it from being sold by the trustee. If you don’t have any valuable assets, the trustee can file a “no-asset report,” which will discharge your non-priority debts.

What Should I Do If I Have Assets?

Do you own a home and car? Are you worried about losing your investments when you file for Chapter 7? Some of your valuable property might be exempt under the bankruptcy code and certain state laws. You should consult with an experienced lawyer to determine all of your exemption options.

Contact Our Dedicated Attorneys Today

At Sutton & Janelle, PLLC, our goal is to provide you with the seasoned legal counsel you need to eliminate your debt and keep most of your valuable assets and properties. Our legal team has years of experience guiding clients through each step of the bankruptcy process, and we are prepared to get to work on your case today.

Give us a call at (304) 867-0049 to request your consultation with a member of our law firm.