Bankruptcy Exemptions

Even today in Metro Detroit, it is not uncommon for people to believe that bankruptcy only takes things from you. As with many bankruptcy myths, that is simply not true.In fact, bankruptcy is designed to preserve the belongings you need to get your fresh start. Your clothing, furniture and other essentials are all normally protected by bankruptcy laws.On top of that, bankruptcy also provides for a number of protections called bankruptcy “exemptions.” An exemption is designed to protect different kinds of property up to a certain value amount, a car, for example, or even equity in a house. Retirement accounts, a 401(k) or a Roth IRA, for instance, are also generally protected.

You Can Depend On Us To Advise You Properly About What You Can Keep

Most important, though, when you work with our experienced lawyers here at Gold Lange & Majoros, P.C., you will know all of that before we file a bankruptcy case on your behalf. Between us, our attorneys have more than 100 years of experience in bankruptcy law. We know how bankruptcy works and how the trustees of our district have viewed cases similar to yours in the past.

As a result, we can advise you intelligently and wisely with respect to even the most complicated belongings. Clients regularly look to us for advice when it comes to protecting investments, real estate and other assets. As we did with them, our experienced team can help you plan for your bankruptcy so as to maximize the protections available to your assets under the law.

Come See Us First

Call us at 248-350-8220 to find out if bankruptcy is right for you. You can also reach us online.

News and Events

Nine West Bankruptcy

The retailer Nine West has filed for chapter 11 bankruptcy citing debts totaling more than $1 Billion.  Nine West owns the Anne Klein brand as well.  Learn more.

Sears Stores Closing In Michigan

The iconic brand of Sears is getting smaller in Michigan in the midst of bankruptcy.  The legendary retailer is recently announced that stores in Ann Arbor and Lincoln Park will be closing.  Learn more.

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