Nevada Bankruptcy Exemptions

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What Are Nevada Bankruptcy Exemptions?

Major exemptions available when filing for bankruptcy in Nevada are listed below, with a brief description of each exemption. Nevada has opted not to allow its residents to utilize the federal exemptions, so only Nevada statutes that define and list the exemptions can be used. A lawyer should be consulted to determine all available exemptions that may be filed.

1) Homestead (equity in dwelling used as residence)

2) Equity in Automobile

3) Personal Property

4) Income

5) Tools of the Trade

6) Insurance

7) Pensions

8) Public Benefits

9) Alimony and Child Support

Do I Need a Bankruptcy Lawyer?

Bankruptcy is a very complicated process and filing an exemption incorrectly can lead to that property being seized, even if the property would have been exempt had the exemption been filed correctly. The Nevada bankruptcy exemption statute must be used when filing for exemptions. A bankruptcy lawyer knows the particulars of filing for bankruptcy, and can recommend what chapter of bankruptcy is right for you. A bankruptcy lawyer can also ensure that your exemptions are filed correctly.

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Last Modified: 06-05-2014 11:04 AM PDT

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