What assets may I keep when filing Chapter 13 Bankruptcy?

When filing Chapter 13 bankruptcy in the state of Washington, there are various assets that you can keep. These assets are known as exempt assets, and they are protected from creditors. The most common exempt assets include your main home, vehicles up to $10,000 in value, household items such as furniture items, clothing, jewelry, wedding rings, and appliances up to a certain value, and cash up to $1,000. Additionally, debtors may be able to keep public benefits and pensions, tools of the trade, and certain annuities and insurance policy proceeds, depending on the situation. These items are important for the debtor to be able to take care of themselves and their family. Lastly, the debtor may also be able to keep any inherited property, wages from a job, or any other form of income that has been earned but not yet received. This is an important protection for debtors so that they can continue to make a living and take care of their families. Filing Chapter 13 bankruptcy in Washington can be a difficult process, but with the help of a qualified attorney, you can make sure that the assets you deem important are protected.

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What assets may I keep when filing Chapter 13 Bankruptcy?

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