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Legal Helpers Seattle bankruptcy attorneys will help protect your personal property.
Legal Helpers Seattle bankruptcy attorneys can use Washington state law to protect the equity in your personal property. Equity is the difference between the market value of your property and the claims held against it. Listed below are some of the most common types of exemptions that bankruptcy attorneys can use to help keep your creditors' hands off your cherished possessions.
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Our attorneys want you to consider these exemptions as you're contemplating whether or not to file for a Chapter 7 or Chapter 13. These are for educational purposes only and our Seattle bankruptcy attorneys will gladly meet with you to explain how each could or could not apply to your particular case. In addition, our Washington bankruptcy attorneys may also be able to use other bankruptcy exemptions that do not appear on this list.
Washington state exemptions.
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Homestead Exemption -- This exemption can be used to protect up to $40,000 of the equity in your home and its improvements, your land, and/or your mobile home.
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Motor Vehicle Exemption -- Your bankruptcy attorneys can use this exemption to protect $2,500 in value of any one motor vehicle listed in your bankruptcy.
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Household Goods Exemption -- This exemption allows your bankruptcy lawyers to protect $2,700 of your interest in your valued household goods, appliances, furniture, and home and yard equipment.
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Life Insurance Proceeds Exemption -- This exemption can be used to protect a payment under a life insurance contract that insured the life of an individual of whom you were a dependent, to the extent reasonably necessary for your support or the support of your dependent(s).
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Qualified Retirement Plan Exemption -- Your lawyers can prevent creditors from touching the proceeds of your hard-earned retirement plan.
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Tools of the Trade, Professional Books Exemption -- This is a useful exemption that can be used to protect up to $5,000 of the tools you use in your profession.
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Wildcard Exemption (Any Personal Property of the Debtor) -- The "wildcard" exemption is a catch-all category that permits you to protect your property (up to certain limits) not covered by any of the other exemptions.
These are just a few of the Washington state exemptions that could play a major role in your case. Contact the experienced lawyers at Legal Helpers today to find out more. Our aggressive legal representation and extensive experience has earned Legal Helpers a national reputation for excellence.
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