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What property is exempt in a chapter 7 bankruptcy?

April 26, 2017Bankruptcy chapter 7 exempt Property

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What property is exempt in a chapter 7 bankruptcy?

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Most chapter 7 debtors can exempt everything they own. Some of the items a chapter 7 debtor 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 to chapter 7 debtors, as well as their respective limitations, you should view the “exemption” section of this website.