'What Can I Keep?' — A Fair Question To Ask When Considering Bankruptcy

If bankruptcy is on the table as a debt relief solution, you naturally have many questions to ask a lawyer before moving forward. Common questions include:

  • "Will I be able to rebuild credit soon after receiving a bankruptcy discharge?"
  • "Will my neighbors, extended family and co-workers know I am going through bankruptcy? Will I be stigmatized?"
  • "What if I want to repay my debts, but I need relief sooner than when I can repay?"
  • "Will I have to surrender my house, car, household goods or jewelry?"

These — and other things you wonder about — are very good questions to ask. The most direct path to personalized answers to your most vital questions is through a frank conversation with a lawyer. Attorney Jeffrey G. Malm in Harrison is ready to answer your questions while taking into consideration your unique circumstances.

The Good News For Arkansas Debtors

In Arkansas, bankruptcy filers have the option of using state or federal exemptions. Exemptions are assets that you do not have to include in your Chapter 7 or Chapter 13 bankruptcy. A review of your asset portfolio and debt burdens will enable attorney Jeffrey Malm to advise you as to which set of exemptions will be most advantageous in your case.

Bankruptcy laws recognize a debtor's need for stability. Many clients of Jeffrey G. Malm, Attorney at Law, have been able to keep most or all of their assets, including their homes, cars and personal property such as clothes, furniture and appliances. Other clients have decided that letting go of a house or car — along with the debt attached to it — would serve their needs better.

Important Free Advice Right Now, Even Before You Meet With Arkansas Lawyer Jeffrey Malm

There is no substitute for a consultation with an attorney to help you prepare to file bankruptcy with your best interests front and center. However, until you meet with Mr. Malm or any attorney, be aware of actions that could affect your ability to file bankruptcy when you want to.

  • Do not sell or give away significant assets before talking to a lawyer.
  • Do not use your credit cards or take on new debts at this time.
  • Do not hide assets.
  • Do not concoct schemes to pay back some creditors but not others.

Get The Answers You Need To Make The Right Decisions

The information you need to understand what bankruptcy would mean to you is readily available through a consultation with Jeffrey G. Malm, Attorney at Law. Call 870-743-7009 or 888-253-0269 toll free to schedule a consultation. You may also submit an email inquiry for a prompt response.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.