Before you take bankruptcy, you should consider all your options. If bankruptcy is the right solution will depend on your situation, the type of debt you have and how much property you need to protect. There are disadvantages to taking bankruptcy. You may still owe money even after taking bankruptcy. The debts that may be still owed are federal, state, and local taxes, child support, alimony, money judgements for drunk driving and other criminal offenses. Your non-exempt property may be seized by the bankruptcy court and sold to pay your creditors.
Protect your assets without going to bankruptcy court. Asset protection planning maybe a better alternative. If you want further information about asset protection planning, please call me, Pete Losavio, at 225 5769 4200.