What Property Is Exempt in Bankruptcy?

Chapter 7 Homestead Exemption

If you file for Chapter 7 bankruptcy, whether you can keep your home depends, in large part, on your state's homestead exemption.

The Motor Vehicle Exemption in Chapter 7 Bankruptcy

If you file for Chapter 7 bankruptcy, you will most likely be able to exempt (protect) some equity in your car, van, truck, motorcycle, or other motor vehicle. If you can exempt enough equity, you'll be able to keep your car.

How to Use the Wildcard Exemption in Bankruptcy

The wildcard exemption in Chapter 7 and 13 bankruptcy provides a way to protect more of your assets from liquidation during bankruptcy. This particular exemption allows you to protect property that is not normally covered under other exemptions. Here's how the wildcard exemption works.

Are Household Goods and Furniture Exempt in Bankruptcy?

In most cases, you can use state or federal exemptions to keep most or all of your household goods and furniture when you file for Chapter 7 bankruptcy.

If I file for bankruptcy is my Social Security income exempt?

For the most part, your social security money is protected when you file for Chapter 7 bankruptcy. But not if you've mixed the money with other funds. Read on to learn more.