In these times many people are feeling financial stress. There is a temptation to take retirement savings and home equities and monetize them to pay ordinary bills. When you do so, you may be subjecting assets that no one in the commercial world, or the credit and collection industry expect, or have a right to expect, that you will surrender in order to pay debts. Every state has its own set of exemptions, and there is a system of Federal Bankruptcy exemptions available in some states. You should know about exemptions before you impair your future for temporary relief today.
This article is written by an attorney at Attorney Donald Wyatt PC. Always consult an attorney before making any legal decisions. To make an appointment today, please click here to contact us.