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Is a person allowed to have any property at the time of filing for Bankruptcy?

April 26, 2017allowed Bankruptcy filing person Property time

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Is a person allowed to have any property at the time of filing for Bankruptcy?

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Yes. The law provides for list of exemp assets, you do not have to be down to your last dollar to file for Bankruptcy. Noone has to get to such poverty level, the longer you wait the more you cause yourself and your family to suffer. See our notes on Exempt Property.