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Alaska bankruptcy filing

Troubled by excessive debts? Filing a bankruptcy as per Alaska bankruptcy laws could be your best choice!

Taking important financial decisions whether to move ahead or not with your bankruptcy procedures as per Alaska bankruptcy law guidelines can be very difficult, as there are several advantages and disadvantages. Alaska bankruptcy filings can be trying, and there is no specific way to determine if the bankruptcy option chosen by you is right for you.

It’s possible to file for bankruptcy as per Alaska Chapter 7 bankruptcy, or alternately Alaska Chapter 13 bankruptcy in accordance to the state and federal bankruptcy law. It’s required to qualify for your bankruptcy by passing the bankruptcy means test, and any one of the Alaska bankruptcy attorneys can guide you how to go about it.

State exemptions in Alaska:

State and federal bankruptcy exemptions available in Alaska.

Homestead

Up to $54,000 while considering the principal residence for single or multiple owners and subject to certain liens. The proceeds are exempted in Alaska for a duration of 6 months.

Wages

Net weekly earnings up to $350, and for the sole wage earner in the household up to $550. In case you don't receive any weekly, monthly, or semi-monthly pay, it’s possible to claim $1400 in either cash or in the form of liquid assets. For the only wage earner in the household the amount is $2,200

Wild card

None

Automobiles

Maximum up to $3,900 for one vehicle as long as the actual value of your vehicle does not exceed $26,000.

Misc.

Available for property registered under business partnership. Alimony and child support payments made to a collection agency are exempt.

Alaska bankruptcy lawyer

Filing for bankruptcy in Alaska can be a less complicated process if you avail the services of experienced Alaska bankruptcy lawyers. Choosing the correct Alaska bankruptcy attorney is very important, as attorneys have a legal standing in bankruptcy courts, and are good at negotiating on your behalf with the trustee appointed by the bankruptcy court.

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