When you file for bankruptcy, one of the most top issues on your mind is likely to be what will happen to your possessions. If you are a firearms collector, then losing your guns during bankruptcy is certain to be a concern. Your bankruptcy attorney can guide you through what you need to know about disclosing your firearms collection in your bankruptcy paperwork.
During a Chapter 13 bankruptcy, your firearms are not likely to be an issue. In a Chapter 7 bankruptcy, there is a good chance that your bankruptcy attorney can ensure that they are not included in your settlement. The key is to disclose all of the information you have about your firearms to your lawyer so that he or she can include them in your paperwork as required. Failing to disclose any kind of asset, including firearms, could jeopardize your bankruptcy ruling.
Most people are surprised to learn that filing for bankruptcy does not mean losing all your belongings. The attorneys at Cutler & Associates, LTD. offer free consultations to help you learn of bankruptcy could be a solution for you. Dial (847) 961-4572 to talk to a bankruptcy lawyer in Schaumburg today.