DeSanto Law Firm is an Ohio law firm that helps individuals and families in and around Canfield, Youngstown, Boardman and Austintown through Chapter 7 and Chapter 13 bankruptcy proceedings. We handle every step of the process from initial appointments, in which we will collect information from you to determine eligibility, to subsequent discussions about the best course of action and assistance throughout the bankruptcy filing. We even provide assistance with steps that can be taken to improve your credit score after bankruptcy. In addition to our bankruptcy practice, we help individuals and families through legal matters such as divorce, child custody and visitation. To speak with a lawyer at the firm contact us online or by calling 330-702-8800.
Property Exemptions
In a Chapter 7 bankruptcy, also known as a liquidation bankruptcy, debtors are allowed to keep certain items and are required to turn over other items to pay off debts. Debtors are often concerned about what property they will be allowed to keep and what they must give up. A debtor's property is divided into two categories:
Exempt: This is property that is not eligible to be sold in a Chapter 7 bankruptcy and the debtor is allowed to keep.
Nonexempt: This is property that the debtor is required to turn over to the bankruptcy trustee so that the property can be sold and the proceeds used to pay off debts.
In the state of Ohio, there are certain monetary amounts that are exempt from the claims of creditors, and your trustee, in property including:
- Real estate
- Car
- Bank accounts
- Life insurance payable to a spouse or child
- Retirement accounts
- Tools necessary for the individual's trade
- Clothing
- Jewelry
- Pets
We Provide Skilled Advocacy, Dedication and Accessibility
At DeSanto Law Firm, we provide quality service and don't cut corners. The necessary time and attention will be given to your case as we work to seek the results you desire. With more than 65 years of combined legal experience, our team provides skilled advocacy, dedication and accessibility to each client we work with.
Our office is conveniently located in Canfield, Ohio on Boardman-Canfield Road and our regular office hours are Monday through Friday from 9 a.m. to 5 p.m. with evening and weekend hours available by appointment. To speak with a Youngstown bankruptcy exemption attorney at the firm contact us online or by calling 330-702-8800.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
