Springfield, Missouri Bankruptcy Lawyer

Are you interested in exploring your bankruptcy options but worried about losing your personal possessions—such as your home or your car—in the process? At the Bankruptcy Law Clinic LLC, we can help you understand Missouri's laws on what you can and cannot keep during foreclosure proceedings.

Would you like to speak with an attorney regarding bankruptcy? Call the Bankruptcy Law Clinic LLC at (417) 8NO-DEBT to schedule an initial consultation.

About Missouri Exemptions

When you file for Chapter 7 or Chapter 13 bankruptcy, certain types of property and assets will be partially or fully exempt from bankruptcy proceedings. Our attorneys can help you file for bankruptcy and help you keep some of your property. In a Chapter 7 bankruptcy, a trustee will assume control of any property that is not exempt. That property is sold, and the proceeds are used to pay the creditors. The Bankruptcy Clinic LLC can answer your questions about exemptions, which can include the following:

• Homestead exemption: $15,000
• Wedding ring: $1,500
• Mobile home exemption: $5,000
• Motor vehicle: $3,000 per debtor
• Household goods and furnishings: $3000 per debtor
• Unemployment compensation benefits
• Tools of the trade: $2,000 per debtor
• Workers' Compensation
• Qualified retirement plans
• Social Security benefits

The above is not an all-inclusive list, and there are many more exempt items. With help from the Bankruptcy Clinic LLC, it is entirely possible to save your home from foreclosure and avoid car repossession. It is important to note that you must have lived in Missouri for the past 911 days or more to qualify for the exemptions.

Contact us to arrange a initial consultation.