What Are the Nevada Bankruptcy Exemptions?

When you file for bankruptcy in Nevada, the court will review your assets and exempt certain property from the bankruptcy estate. The exemptions available to you will depend on whether you file for Chapter 7 or Chapter 13 bankruptcy.

Under Chapter 7, you can exempt up to $12,000 of equity in your home, as well as up to $3,000 of equity in a motor vehicle. You can also exempt up to $2,500 of personal property, including jewelry, clothes, and furniture. If you have any equity in additional property, such as a boat or RV, you may be able to exempt up to an additional $1,000.

Under Chapter 13, the exemptions are different. You can exempt up to $25,000 of equity in your home, as well as up to $7,500 of equity in a motor vehicle.

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