The object of filing for Chapter 7 bankruptcy is to protect your assets and buy time to pay off some debts. This is the reason the courts classify some of your property as either exempt or non-exempt. For a good understanding of what property can or cannot be liquidated during a Chapter 7 bankruptcy, consult a bankruptcy attorney. Here is some basic information regarding exempt and non-exempt property.
How Does Exemption Work?
If you are the victim in a personal injury case, then you might have already decided that you want to hire a lawyer so that you can fight for financial damages that might have been caused because of your injuries. You might already know that you can fight to get compensated for things like your medical bills and lost wages. However, there are other potential damages that you and your attorney can fight for as well.