The North Carolina Bankruptcy Information Blog

As you are getting ready to file for bankruptcy protection, one piece of information your attorney will request from you is a value of every item of property you own. Your attorney will want you to make a list of all the property you own and give an estimate of the fair market value. There’s no need to worry about this part of the process; the request for valuation does not mean any of your property will actually be sold, most families don’t own property worth more than the state exemption limits. Even if you have substantial property, it is still possible to protect the value above exemptions by filing for Chapter 13.…

It shouldn’t take more than a few visits to our blog for you to find a slew of posts about how to prepare for your bankruptcy and manage all the relationships along the way, like those with your attorney and bankruptcy trustee.

Like any relationship, the ones that are forged during a bankruptcy should be built on trust. That is, you need to be upfront with everyone and every entity involved, even your creditors, to ensure that in the end you wind up where you need to be. A large part of building that trust has to do with how you handle the disclosure of your assets.…