What I Wish People Understood About Bankruptcy | Do you lose all of your assets in a bankruptcy?

What I Wish People Understood About Bankruptcy | Do you lose all of your assets in a bankruptcy?

Everyone has heard of bankruptcy. But, as with anything a person may not have personally experienced, it’s easy to develop false assumptions about it based on tidbits of information heard in the news or from people you know. Unless a person has gotten up-close-and-personal with bankruptcy, there are some things they probably don’t know – things that might help if they or someone they care about are struggling with debt.

As a Licensed Insolvency Trustee, one thing I wish people understood about bankruptcy is that people don’t usually lose all of their assets in bankruptcy. In fact, in many cases people don’t lose any assets at all.

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