Keeping Nonexempt Property in Bankruptcy
In Chapter 7 bankrutpcy, you may have to turn over property to the bankruptcy trustee if it is not protected by your state's bankruptcy exemption laws (or the federal exemptions if your state allows you to use them). This property is called nonexempt property.
If you have nonexempt property that you don't want to part with, however, you may be able to keep it. You can learn more about your options for keeping nonexempt property below.
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What Is Nonexempt Property in Bankruptcy?
Find out about assets that you won't be able to exempt (protect) in bankruptcy.
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When Will the Trustee Abandon Property in Chapter 7 Bankruptcy?
If the trustee abandons your property Chapter 7 bankruptcy, you get to keep it. Find out more.
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