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Terry L.
Terry L., Attorney
Category: Bankruptcy Law
Satisfied Customers: 2889
Experience:  Better Business Bureau. 18yrs bankruptcy experience. Chicago Bar Assoc. American Bankruptcy Institute member.
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advise on living with in laws going bankrupt

Customer Question

Me and my husband have been living in a pub with my mother and farther for two years and have a little girl. My mother and farther in law are going to go through banckruptcy where they might send the recivers in. I am scared they will take my dughters things to how can i secure them with no recipts ?
Submitted: 8 years ago.
Category: Bankruptcy Law
Expert:  Terry L. replied 8 years ago.
Each state has certain asset exemptions of the debtors. If the assets are not the debtor's then there is no problem.
It is rare that the trustee would come in to view assets. You can testify that the assets are your daughters if that would ever happen.