Animal Ownership during Bankruptcy
Many debtors may be in dire need of financial assistance, but are worried about the consequences of Chapter 7 bankruptcy on the animals they own. Animal owners may have made significant changes to their regular budgets just to keep their favorite animals in their possession. However, the costs associated with keeping a pet or working animal can be overwhelming at times, and may have a serious effect on a person’s overall financial stability.
If you are worried about how bankruptcy will affect any pets or farm animals that you may own, contact Florida bankruptcy lawyer Ryan J. Really, Attorney at Law, PLLC, at (239) 237-0675 today.
Pet and Animal Ownership Costs
Keeping an animal either as a pet or a working companion can prove very expensive for many individuals. An animal may require the following expenses:
- Fees from landlords
- Medical treatment
- Safety or protective measures, such as fencing
These costs may eventually become too great for an owner to manage.
However, in most instances, a debtor will not be forced to give up an animal if he or she files for bankruptcy. If the animal is an essential part of the debtor’s business or work operations, they can often qualify for a “tools of the trade” exemption. Additionally, a family pet may be covered by a wild card exemption under the state bankruptcy code.
If you have questions regarding what will happen to your pets or other possessions if you file for bankruptcy, we may be able to help you. For more information regarding your legal rights and options, contact Florida bankruptcy attorney Ryan J. Really, Attorney at Law, PLLC, by calling (239) 237-0675 today.