Alabama Personal Property Exemption
The state of Alabama creates bankruptcy exemptions for its citizens that may protect certain pieces of personal property. In many states, bankruptcy exemptions for personal property only extend to certain necessary items. However, some exemptions may cover some “unnecessary” property, as well.
The Birmingham bankruptcy lawyers of Greenway Bankruptcy Law, LLC, may be able to help you with your bankruptcy proceedings and help you understand what exempt property you have. To learn more about your options, contact us by calling (205) 324-4000 today.
Keeping Personal Property during Bankruptcy
Bankruptcy exemptions help debtors retain some of their necessary or important property. This can help debtors keep control over their finances after the bankruptcy proceedings are over. Also, some of these exemptions protect bankrupt debtors from losing items that may hold little actual value, but hold great personal value. In Alabama, the following property exemptions are available:
Pictures or portraits of family members
Necessary items such as clothing
If a person files for bankruptcy in the state of Alabama, they may benefit from these exemptions. Especially in the case of family pictures and burial plots, these items may be immensely valuable for a certain person, but hold very little market value.
If you have been pushed into debt that cannot be managed any longer, we may be able to help you. Bankruptcy can be a complicated process, but it can be incredibly beneficial. To learn more about your rights and options, contact the Birmingham bankruptcy lawyers of Greenway Bankruptcy Law, LLC, at (205) 324-4000 today.