Maine Bankruptcy

If your bills are piling up and you are having a tough time catching up, Chapter 7 bankruptcy may be a good debt-relief option for you. A bankruptcy attorney can help you determine whether filing bankruptcy is appropriate for you.

We’ll connect you today with a Maine bankruptcy lawyer for free and with no obligation. All you have to do is enter your ZIP code below and fill out our 2-minute bankruptcy evaluation form.

Filing Chapter 7 Bankruptcy in Maine

If you’re interested in filing for Chapter 7 bankruptcy (also known as “liquidation”) in Maine, you may be interested in learning which of your personal belongings are protected by Maine’s bankruptcy laws.

We here at Chapter7.com can help you make the first step. All you need to do is fill out the above free bankruptcy case evaluation form, and we’ll connect you with a bankruptcy lawyer practicing in your area of Maine. It’s that easy.

Understanding Maine’s Bankruptcy Laws

The term “liquidation” refers to the process of liquidating, or converting to cash, your personal possessions not exempted by Maine’s laws. Protected belongings are called “exemptions,” and they vary from state to state. In Maine, you can expect to have your home, car, some of your wages and a few other items exempted.

Here’s what you can expect be exempted from in your Chapter 7 bankruptcy case:

Homestead:

• UP to $47,500 for residential property.
• Up to $95,000 if residential property houses minor dependents. Also applies to anyone filing who is or has a dependent who is: 60-years-old or older, mentally or physically disabled.

Vehicle: One motor vehicle worth up to $5,000.

Personal Property:

• Clothing, appliances, furniture and similar items worth up to $200 per item.
• Up to $750 worth of jewelry.
• Up to $5,000 worth of trade tools.
• 100 percent of the value of furnaces, stoves, fuel and farming equipment.

Questions? Consult a Maine Chapter 7 Bankruptcy Lawyer

Maine’s bankruptcy laws are complex and require interpretation. With a Maine bankruptcy attorney on your side, you can focus on living your life rather than mulling over the details of your bankruptcy case.

Missing deadlines, completing paperwork incorrectly and determining how much your personal belongings are worth are only a few of the things you won’t have to worry about when you work with a Maine bankruptcy lawyer. Let Chapter7.com help you ease your worries about filing bankruptcy.

We can connect you with a Maine bankruptcy attorney practicing in your area today–all you need to do is fill out the above free online case evaluation form or call us at 877-226-6844 and we’ll put you in touch with a Maine bankruptcy lawyer to help you with your case.

Note: Keep in mind all laws are complex. If you need legal advice or want to fully understand how these laws affect you, please speak with a local attorney.

Laws may have changed since our last update. For the latest information on your state’s bankruptcy laws, speak to a local bankruptcy lawyer.