Indianapolis Bankruptcy Exemptions Lawyer
Helping Clients in Marion County Keep Their Assets
As you decide which type of bankruptcy is right for your situation, it is important to know that this is an action that can change your life in many ways. You might have considered what you stand to lose in bankruptcy and wondered what assets may be exempt.
At Jackson & Oglesby Law LLC, our bankruptcy attorneys have more than 30 years of combined experience and are committed to providing the legal aid that our community needs in order to resolve their debt. Below, we address the possible exemptions you may claim when you file for bankruptcy.
Are you looking for property exemptions in Bankruptcy? Our Indianapolis bankruptcy exemptions lawyer is ready to represent you. Call Jackson & Oglesby Law LLC today at (888) 713-5148 or contact us online to get started.
What Are the Different Types of Indiana Bankruptcy Exemptions?
Your nonexempt assets can be liquidated to pay back your creditors, but many individuals are able to keep all of their personal property. Under federal and state bankruptcy laws, people who file are able to exempt certain property from liquidation.
Under Indiana law, there are three main exemptions:
- Homestead exemption
- Personal property exemption
- And general intangible exemption
What Is a Homestead Exemption?
Homestead exemptions protect a set amount of equity within one's home or principal residence.
An individual who files for bankruptcy is allowed to exempt up to $22,750 of their exposed home equity.
Joint filers can exempt up to $45,500. Additionally, the interest that debtors have in a real estate can be exempt under Indiana Code Ann. § 34-55-10-2.
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Why Choose Jackson & Oglesby Law LLC?
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Guided by a team of attorneys with over 30 years of bankruptcy experience.
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Trusted by hundred of clients who have achieved a debt-free life.
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Accredited by the Better Business Bureau & a member of the National Association of Consumer Bankruptcy Attorneys (NACBA).
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Affordable payment plans and $0 down options are available.