Keeping Your Assets

Connecticut has very liberal bankruptcy exemptions. You have the option to claim either state or federal exemptions. In the vast majority of cases you will not lose any assets. Exemptions are available for:

  • Automobiles
  • Household furniture
  • Tools of the trade (unlimited exemption)
  • Wedding and engagement rings and other jewelry
  • Cash value life insurance policies and unmatured life insurance
  • All veterans benefits
  • All unemployment and workers’ compensation benefits
  • All public assistance
  • Disability payments
  • All required health aids, such as wheelchairs, CPAP machines and respirators
  • A “wild card exemption” of up to $11,750 to protect assets such as cash, bank deposits and miscellaneous assets

This is just a partial list of the assets you may be able to retain when filing for Chapter 7. At the Hartford, Connecticut, The Law Offices of Ronald I. Chorches, our experienced bankruptcy attorneys make sure that you take advantage of all exemptions made available to you by the federal or state government.

Our Hartford, Connecticut, Chapter 7 Bankruptcy Lawyers Are Ready To Help

For a free, confidential consultation about keeping your assets through Chapter 7 bankruptcy, please contact us online or call The Law Offices of Ronald I. Chorches at 860-952-3878.