Q

What property is exempt in a chapter 7 bankruptcy?

A

Most chapter 7 debtors can exempt everything they own. Some of the items you may exempt, depending on the exemption statute selected, include: (1) homestead, (2) vehicles, (3) retirement accounts, (4) pensions, (5) sports equipment, (6) livestock, and (7) household goods. For a complete list of the exemptions available, as well as their respective limitations, you should view the “exemption” section of this website.