Bankruptcy Information
Do You Need A Bankruptcy?
Your income and assets may be fully or partially exempt from your creditors.
Wages are exempt up to $231.75 per week per job after taxes. (This information
is on garnishment papers.) Retirement, social security, child support, and
unemployment are exempt.
All or most of your property will be exempt whether or not you file bankruptcy including residence, cars, furniture, pension, life insurance, etc.
If your income is exempt a bankruptcy will not help you financially but it will
stop collection activity. You have to decide whether to spend $1100 to
stop it or fight your creditors another way. |
