Can the Bankruptcy Trustee take my stuff, and what does he do with it? (Part 1)

One of the top concerns people have when deciding whether to file a bankruptcy is whether the trustee will make them turn over any of their possessions.  This is the very first thing I discuss with prospective clients.  When you file a bankruptcy, technically all your assets (money, rights to money, real estate, personal items) are under the control of the trustee/bankruptcy court, although they remain in your possession.  Even so, with an understanding of the exemption laws, we can go into the bankruptcy knowing that certain items are protected against the trustee taking any interest in them, as generally they are either not of sufficient value or have liens against them (such as a car loan).

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About Barbara Horwitz

Barbara Horwitz is an experienced bankruptcy attorney helping people get past financial difficulties. She believes in creating a relationship with clients and is dedicated to making the bankruptcy process as easy and stress-free for clients. Barbara Horwitz's Google+ Profile

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