State bankruptcy exemptions

State bankruptcy exemptions are laws that determine which of your property can be kept when you declare bankruptcy. Each state has its own rules, allowing you to protect certain assets like a home, vehicle, or personal belongings from creditors. These exemptions vary widely—some states offer generous protections, while others are stricter. Understanding your state's specific exemptions helps you know what property you can retain and what might be used to pay your debts. Consulting a bankruptcy attorney can ensure you're making the most of these protections within your state's legal framework.