When people file for bankruptcy, they often must determine how much they are worth. In the context of bankruptcy, a person’s net worth is not only the value of their assets but also the value of their liabilities.
By taking the difference between the values of their assets and liabilities, people can determine their net worth. This process, however, is complicated because determining the value of assets and liabilities individually is not always straightforward.
Determining net worth is an important step for bankruptcy filing and can influence your bankruptcy settlement. If you are considering filing for bankruptcy, contact the Milwaukee bankruptcy attorneys of the DeLadurantey Law Office, LLC, at 414-377-0518.