"What Can I Keep if I File for Bankruptcy in Nevada?"
Under bankruptcy law, some property can be seized in Chapter 7 bankruptcy but some is exempt. The exemptions vary from state to state.
To find out how the bankruptcy exemptions apply in your situation, it is important to talk with an experienced Nevada bankruptcy lawyer. At Bankruptcy Law Group, PC, our attorneys have helped numerous people throughout Reno and the surrounding areas file for bankruptcy. We can help you understand what property you can and cannot keep if you decide to file for bankruptcy.
Contact us online or call us today to discuss your debt relief options. Our Nevada bankruptcy lawyers are here to help.
Nevada State Exemptions
While not an exhaustive list of Nevada bankruptcy exemptions, here are some of the highlights. If you file for bankruptcy, you may keep:
- Real property or mobile home valued up to $550,000
- Motor vehicle valued up to $15,000
- Household goods, furniture, appliances, home and yard equipment up to $12,000
- One gun
- Pensions
- Tax exempt retirement accounts
- Traditional Roth and IRAs up to $1,095,000 per person
- Public benefits such as unemployment
- Alimony and child support
- Business partnership property
If you are married, filing joint cases could increase your exemptions. The exemptions, by law, change periodically. Our attorneys can help you understand how Nevada bankruptcy exemptions will apply in your case. Our goal is to help you keep as much of your property as possible, while eliminating your debt through bankruptcy.
Schedule Your Free Consultation
If you need help with the bankruptcy process or have questions about Nevada bankruptcy exemptions, we are here for you. Contact us today to schedule a free debt relief consultation with one of our experienced Nevada bankruptcy attorneys. We hold regular office hours and are available evenings and weekends by appointment. We have law offices in Sacramento, Fairfield, Redding and Reno, Nevada.
