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How to Protect Your Assets When You File Bankruptcy

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You should be able to find out the assets that are allowed as exempt in your state with a simple internet search. However, don't rely on what you read. It might not be up to date, as the exemption laws change frequently, and new court rulings often change the way the rules and statutes are applied and interpreted.

CAVEAT: Consult with a bankruptcy specialist before you file to determine if you have any assets that are not exempt. Do not engage in schemes to hide, transfer or conceal assets. Inexperienced people can't help but trip over the maze of new rules and regulations.

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