My husband and I have our own business. We are currently in Chapter 13, there have been some changes in our finances; beyond our control, if we convert to Chapter 7 will we lose the items that we work with? ie: wreckers, automotive tools, etc?
CONVERTING FROM CHAPTER 13 TO CHAPTER 7
1 Comments:
Yes, it is possible that you will lose some assets in a Chapter 7 bankruptcy. The exemption limits for various assets are different in each state, so we suggest you contact a local bankruptcy attorney for more information.
By Bankruptcy Expert, at 1:12 PM
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