The short answer is NO! The Bankruptcy law provides that a debtor filing for bankruptcy can keep certain assets for a “fresh start” by exempting property from the  bankruptcy estate. See my related post titled “What are the bankruptcy exemptions.” If you have any questions about Bankruptcy in Michigan, call the law office of Michael J…

The vast majority of bankruptcy cases are “no asset” cases. In this type of case, you don’t have any property above and beyond that property or other assets that is considered exempt. See my article on exemptions which tells you exactly what property you get to keep for your new life. If you have any…

The bankruptcy law exempts certain property and other assets from your creditors. In other words, you are allowed to keep certain things to provide for your “fresh start.” Here is the list of exemptions: Homestead: Real property, including mobile homes and co-ops, or burial plots up to $20,200. Unused portion of homestead, up to $10,125,…