Are there any assets that I cannot keep after filing for bankruptcy?

Yes, there are certain assets that you will not be able to keep after filing for bankruptcy in Massachusetts. Some of the assets you will not be able to keep include your primary residence, any money in retirement accounts, any money in accounts with cash or investments, and any vehicles you own that are worth more than $6,000. Any assets that you have received through gifts or inheritance within the last 5 years are also not able to be kept. When filing for bankruptcy in Massachusetts, you will be required to disclose all of your assets to the court. The court will then determine which assets you are able to keep and which assets must be sold to pay back your creditors. In addition, certain debts are not subject to being discharged. These types of debts include student loans, child support, alimony, and some tax obligations. You will still be responsible for paying back these types of debts even if you file for bankruptcy. Overall, filing for bankruptcy can help you get out of debt, but it is important to know which assets you will be able to keep and which assets you will need to surrender. Be sure to speak with a bankruptcy attorney to determine exactly which assets you will be able to keep after filing for bankruptcy.

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Are there any assets that I cannot keep after filing for bankruptcy?

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