Latest News 2010 April New Law May Help Those Filing for Bankruptcy

New Law May Help Those Filing for Bankruptcy

In Tennessee, a new law may be helpful to those who are declaring personal bankruptcy and allow them to protect more of their personal assets. The law will increase the amount that a debtor can claim for a personal property exemption from $4,000 to $10,000. Debtors will be able to retain addition property as they work to get back on their feet. Also, money received as a result of a federal earned income credit or federal child tax credit will be protected.  

Anyone at anytime can find themselves needing to file for bankruptcy, whether personal bankruptcy or as a company. You need to know that these matters can be resolved in a beneficial way if handled properly so that you are able to move forward with your life. You do have rights to protect during this difficult time, but it's important that you take the correct steps to do so. Filing for bankruptcy does not have to be the end, but can be the chance at a new beginning when you make the right choices. With the help of a bankruptcy attorney, you can begin to resolve this matter and get your life back together. A lawyer will know how to best approach your situation and all aspects including any court proceedings. You can count on an attorney to always have your best interest in mind while settling your bankruptcy situation. Please take some time today to contact a bankruptcy lawyer and begin discussing the details of your case now.