Are you drowning in debt but hesitant to declare bankruptcy because you’re concerned about losing your assets? If so, turn to C. Roland Krueger Attorney and Counselor at Law in Lexington, NC. As a bankruptcy attorney with nearly 40 years of experience, C. Roland Krueger helps clients apply asset protection strategies in a variety of scenarios.

Asset protection during bankruptcy proceedings is complicated, as there is a thin line between keeping what is rightfully yours, and failing to disclose what you own. That’s why it is so important to hire an attorney with extensive experience in bankruptcy law. One wrong turn could cost you your reputation, or worse, your freedom.

There are various types of bankruptcy, and each offers a different level of asset protection. For example, if you declare Chapter 7 bankruptcy, you can stop the bank from foreclosing on your home—at least temporarily. You may also be able to prevent wage garnishment and protect your car, pension, retirement fund, and certain household goods from creditors.

If you file for Chapter 13 bankruptcy, you can hold onto all of the assets listed above by organizing your debt and devising a more manageable repayment plan. This option works best for individuals who have a steady income but are stuck living paycheck to paycheck.

If you own a company that’s in trouble, you might opt for Chapter 11 bankruptcy, which allows you to keep your personal assets. An attorney can help you devise a plan for reorganizing your company’s debt and gradually paying it back by filing for this form of bankruptcy.

If you want to declare bankruptcy but are concerned about losing your assets, turn to C. Roland Krueger Attorney and Counselor at Law in Lexington, NC. Check out their website to learn more about their experience in debt relief, and call (336) 248-8464 to discuss viable asset protection strategies today.