Exemptions to protect property during bankruptcy
LIST Code: MO-13-06-00-00
LIST Code
MO-13-06-00-00
Title
Exemptions to protect property during bankruptcy
Definition
This category concerns options a person might have to claim exemptions during a bankruptcy, which would protect certain property (like home, car, benefits, retirement, licenses, insurance, or tools of trade) from being sold by a trustee during the process. There are federal rules on bankruptcy exemptions, and some states have local exemption systems. This category concerns how to claim certain exemptions, deal with objections to them, and how this determines how much a person will have to pay to creditors.
Terms within it
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