| Anyone can face sudden financial difficulties. | | | | are in fact legally entitled to claim much of your |
| Sudden life changes, such as serious accidents, | | | | property as exempt. Most of your household |
| can result in thousands of dollars in medical bills. | | | | items can be kept exempt, as can some vehicles. |
| Someone who had been in good financial health | | | | Unless certain household items are extremely |
| may find him or herself with unmanageable debt. | | | | expensive, such as pricey Italian leather furniture, |
| If you are in a similar situation, bankruptcy may | | | | they are unlikely to be sold. |
| provide the most effective way to repay your | | | | Under Massachusetts bankruptcy law, you can |
| debts and start again. Bankruptcy can mean selling | | | | claim musical instruments and equipment as a |
| some of your property to repay debts, a | | | | component of your "household items," alongside |
| prospect that may sound unpleasant to those | | | | things like furniture. Depending on what other |
| considering bankruptcy. | | | | property you are willing to sacrifice, you may be |
| Musicians of all stripes, hobbyists and professional | | | | able to keep a significant portion of your gear. In |
| musicians alike, are prone to collecting pricey | | | | addition, if you are a professional or |
| musical equipment. It is not rare for serious | | | | semi-professional musician, you can claim a certain |
| guitarists to spend thousands of dollars on new | | | | amount of equipment as necessary tools of the |
| guitars, amplifiers, and related equipment. Filing for | | | | trade for your occupation. |
| bankruptcy can help you out of dire financial | | | | Of course all of this depends on the particulars of |
| situations, but it may be necessary to sell some, | | | | your unique situation. Since bankruptcy can affect |
| though perhaps not all, of that equipment in order | | | | people of all backgrounds and walks of life, the |
| to repay your debts. | | | | assistance of an experienced bankruptcy attorney |
| There are a number of misconceptions about the | | | | may be necessary to get the most out of your |
| bankruptcy process: rather than the court coming | | | | bankruptcy. With the right planning and guidance, |
| in and carrying out all of your possessions, you | | | | you can clear your debt and start over. |