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What Are the Minnesota Bankruptcy Exemptions?

Bankruptcy is a difficult process for individuals and families to navigate, but the law provides protections for those who are struggling with debt. In Minnesota, there are specific assets that are exempt from bankruptcy proceedings. Knowing what these exemptions are can be an important part of deciding whether filing for bankruptcy is the right choice.

Under Minnesota law, certain assets including homestead equity up to $390,000, motor vehicles up to $4,600 in value, household goods up to $13,400 in value and retirement accounts such as 401(k)s or IRAs may not be seized during a bankruptcy proceeding. Personal injury awards and workers’ compensation benefits received by the debtor may also be exempt from being used to satisfy creditors’ claims.

The Law Offices of Omar Zambrano has helped thousands of people and businesses in the past to get out of debt and start over.

Our main goal is to help you find a fresh start FAST!

Schedule your free consultation today! By Calling 626-338-5505 or visiting us at 12738 Ramona Blvd Baldwin Park CA 91706


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