Protecting Your Property and Assets
Even when filing bankruptcy, you have the right to protect your property interests. Ammerman & Goldberg "Bankruptcy" Law Office serves clients in Washington, D.C., Maryland and Virginia and is committed to assisting clients in financial hardship. Our legal services, including debt relief agency expertise, will be available to anyone who is overburdened by debt.
Property You Can Keep — D.C., MD and VA Exemptions
In Washington, D.C., Maryland and Virginia, certain personal property is exempt from liquidation in bankruptcy actions. These exemptions are your right. However, not all bankruptcy attorneys have the skill or knowledge of bankruptcy laws to take advantage of these personal property exemptions.
While there is an extensive list of property you can keep during bankruptcy, some of the most common exemptions for each of the jurisdictions we practice can be found at the links below:
Homestead Exemptions Under the New Bankruptcy Law
The new bankruptcy law affects homeowners with more than $125,000 in equity who live in certain states (California, Texas and Florida), including the District of Columbia. Homestead exemptions are capped at $125,000, regardless of what the law of your state says, unless you have lived in that state for at least 40 months. If you have lived in that state for more than 40 months, your state's homestead exemption amount applies, even if it's higher than $125,000. Homeowners from Maryland and Virginia will not be affected because their state homestead exemptions are already less than $125,000.
Our Chapter 7 and Chapter 13 bankruptcy attorneys handle bankruptcy cases in the District of Columbia, Maryland and Northern Virginia. We understand the federal bankruptcy regulations as well as the local rules of each jurisdiction in which we practice.
To learn more about your debt relief options, please call 202-559-1428 for a free telephone consultation or contact our lawyers by filling out our online form.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.