What Are the Alabama Bankruptcy Exemptions?
When filing for bankruptcy in Alabama, it is important to understand what the state's exemptions are and how they will affect your case. Exemptions are assets that you can keep even after your bankruptcy case has been filed. In Alabama, each debtor may choose between the state exemption system or the federal exemption system.
The state of Alabama allows debtors to exempt a variety of assets from their bankruptcy proceedings. These include homesteads (up to $15,000 per person), motor vehicles (up to $2,400 per person), tools used in a trade or profession (up to $3,500 per person), household goods and furnishings (up to $3,300 per person), jewelry (up to $750 per person) and wages (as specified by law). Other exemptions may be available depending on an individual’s circumstances.
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