Are there any assets that I will be required to sell when filing for bankruptcy?

Yes, when filing for bankruptcy in Indiana, there are certain assets you will be required to sell. In order to receive a loan discharge, you must repay your creditors by selling off any non-exempt property. Non-exempt property includes jewelry, artwork, vacation homes, luxury items, stocks, bonds, and other investments. Additionally, non-exempt property also includes any proceeds you receive from an insurance policy, such as life insurance. You may also be required to sell off some of your real estate, such as your primary residence, or other real estate assets that are not part of your homestead exemption. In addition to non-exempt property, any cash or money in your bank account may also be used as payment to creditors in the event of a bankruptcy filing. Furthermore, your wages may be garnished in order to help repay creditors, which means the court could order your employer to automatically deduct money from your paycheck and send it directly to your creditors. Therefore, when filing for bankruptcy in Indiana, you may be required to sell off some of your assets in order to repay your creditors. It is important to talk to a qualified attorney to determine which assets are exempt from sale and which ones may be taken to pay off your creditors.

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Are there any assets that I will be required to sell when filing for bankruptcy?

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