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Life After Bankruptcy


Chapter 7 Exempt Property

  • Motor vehicles, up to a certain value
  • Personal clothing items
  • Household furnishings and appliances
  • Jewelry, up to a certain value
  • Personal effects
  • Life insurance policies (cash value or proceeds), up to a certain value
  • Pensions
  • Portion of the equity in your primary residence
  • Tools of Trade, up to a certain value
  • An amount of unpaid yet earned wages
  • Public benefits including Social Security, Unemployment Payouts, Welfare

Call 888-314-1403 to speak with a certified credit counselor for help or fill out the form above.

Under this same Chapter 7 Bankruptcy, the law will NOT allow you to keep the following items. These assets will be taken:

  • Any second (non-primary residences) or vacation homes
  • Musical instruments and equipment, unless you can prove it is your profession
  • Second vehicle, RV, etc.
  • Cash on hand, bank account balances, stocks and invested monies
  • Valuable family heirlooms
  • Stamp, coin, baseball card, or other valued collections
  • Any other un-listed items of value not deemed necessary for day to day living
Be sure to verify within the state of filing for the list of specific exempt and non-exempt items for your particular state.

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