Exempt property is a property that cannot be taken by most creditors to satisfy the creditors’ claims against the debtor. Put simply, it is the property that the debtor can keep. All other property is non-exempt. The purpose of exemption law is to allow the debtor to keep those items of property deemed essential to daily life. Find out more about exempt and non-exempt property here and why hiring a Tucson bankruptcy lawyer is a good move.
There are ways for a debtor to keep property even if its value exceeds the exemption amount, and an experienced Tucson bankruptcy lawyer can advise you on how to accomplish this. http://www.ylfbankruptcy.com/debt-relief-attorney
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