Go to navigation Go to content
Toll-Free: 1 (800) 619-8991
Phone: (952) 388-2942

Which types of assets are exempt under the Federal list when filing bankruptcy?

The Federal list focuses on big-ticket items, such as the debtor’s house and furnishings, life insurance policies, retirement benefits, car, jewelry, business tools and payments from personal injury lawsuits. There is also a catch-all, or miscellaneous, category. Exempt items are not 100% exempt; rather, the Federal rules set a dollar maximum for most categories. These maximums are reviewed and adjusted every other year.