What Am I Going to Lose?

With so many misconceptions about the dangers of bankruptcy, it is wise to seek the counsel of an experienced Tennessee attorney to answer your questions. The Bankruptcy Code does not change from person to person, but each client's personal finances are unique. It is the goal of your lawyer to examine your situation and provide legal advice and guidance regarding your options.

Kenneth C. Rannick, P.C., a Cleveland debt relief law firm, has helped thousands of individuals file for Chapter 7 or Chapter 13 bankruptcy. With seemingly insurmountable debt surrounding assets such as furniture, cars or a home, individuals typically ask one question first — What am I going to lose?

"Since 1988 I have filed more than 14,000 bankruptcies for clients in the Chattanooga area and helped them get out of debt. I can help you too — and do it affordably." - Kenneth Rannick

Bankruptcy Attorneys in Chattanooga

Each case and every client is different, and it takes a skilled attorney to examine the costs and benefits in your situation. There are three common factors, however, that can influence your bankruptcy:

  • Your income
  • Your amounts and types of debt
  • Your goals

We take a careful look at your finances to provide clear direction about a recommended course of action. This is called a "reasonable investigation" in the statutes. We take this responsibility seriously, and seek to give clients as much information about what they stand to lose or gain through the bankruptcy process. We listen to your goals, and we discuss the options on how to reach those goals. We steer clear of danger, and make choices only with your complete understanding and approval.

Once we have a clear picture of your financial situation, we will then match your assets up with acceptable bankruptcy exemptions. Depending on your situation, you can exempt property and assets from the bankruptcy proceedings. It takes a skilled attorney to guide people through these complex statutes, and use them in choosing from the alternative bankruptcy choices available. Based on these exemptions, and other bankruptcy laws it is highly unlikely that you will lose your car, furniture, jewelry, clothes or other assets, unless you agree. Additionally, there are many different types of Chapter 13 plans. For example, in Chapter 13, it might be possible to remove a second mortgage in certain situations. Do not hesitate to schedule a free consultation with an attorney at our office.

Contact Our Firm

If you have questions regarding asset protection, contact Kenneth C. Rannick, P.C. Contact our office by calling 423-954-7180 or by simply completing the e-mail form on this website. We offer free consultations and can maintain evening or weekend appointments based on the needs of our clients.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.