The Bankruptcy Laws and Your Pet
Transcript:
Hi, I'm Matt MacArthur, bankruptcy attorney at Clear Counsel Law Group. A common question that's received by me when I'm interviewing a client that owns pets is whether or not they'll be allowed to keep their pets in bankruptcy, and this is a very good question, because in our society we often think of pets as our family members. They're very close to us, they're part of the family. We feed them, we take them for walks, they're very loved and they feel like one of us. However, we need to remember that the law recognizes pets as property. Just like anything else in bankruptcy, when we're speaking about property, we need to determine whether or not it's something that can be protected. That brings us to the analysis of how much is your pet worth, and do we have a protection available to protect your dog?
I have never seen a pet taken in bankruptcy, so there is good news on that front. Used pets tend to not go for as much as perhaps a purebred puppy, or a thoroughbred horse, or something along those lines. If we're talking about a simple house pet, it's extremely unlikely that you would lose this dog as part of the bankruptcy process. If you do have a higher priced type of pet, like a pure breed animal that's quite valuable, then you would want to definitely speak with an experienced bankruptcy attorney. If you're afraid of losing your pet and you do have a more valuable type of pet, please come in and see me, and we'll discuss this in more depth and how it applies to your particular pet, and I can give you a very good sense of whether or not you'll be allowed to keep your pet in bankruptcy.
However, if I was afraid of you losing your dog I would definitely let you know. It would be the first time that I've seen it happen, but there's always a first time for everything, so you can't ever be too sure, especially if it's a dog that you care very much about, as I suspect would be the case. Please come in and see me, Matt MacArthur at Clear Council Law Group, and we'll discuss your ability to keep your pets in bankruptcy.
