Can I keep certain types of property when filing for bankruptcy?

Yes, when filing for bankruptcy in the District of Columbia, you can keep certain types of property. This is known as the District of Columbia exemption for bankruptcy. In general, you are allowed to keep assets that are necessary for your daily life, such as clothing, furniture, and tools of your trade. You can also keep certain retirement accounts, such as pensions and 401Ks, up to certain amounts. Additionally, if you are a homeowner, you can keep your primary residence, as long as its value is under the exemption limit. In addition to these exemptions, you may also be able to keep certain property that is not exempt. This is done through the purchase of a Bankruptcy Bond. This type of bond allows you to keep certain non-exempt property, such as a car or other valuable items, provided that you pay the bond premium. Overall, filing for bankruptcy in the District of Columbia can be a complicated process. The best way to ensure that you keep the property you are entitled to is to talk to an experienced bankruptcy lawyer. A lawyer can help you make sure you take advantage of the exemptions and other tools available to you to help keep your property during the bankruptcy process.

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Can I keep certain types of property when filing for bankruptcy?

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