What do I get to keep in a Minnesota Bankruptcy?
People always ask me what they get to keep in bankruptcy. What you get to keep fall under what are referred to as exemptions. In some states, like Minnesota, the person filing bankruptcy gets to choose whether to use the State exemptions or the Federal ones. Note that you can only use the MN exemptions if you're a MN resident filing for bankruptcy protection. For example, if you're a Texas resident, you will want to contact a Texas bankruptcy attorney about using the TX exemptions.
Attached is a list that comes right from the Bankruptcy Statute and lists common exemptions and amounts for each. These are subject to change and if you are considering filing bankruptcy you should consult a bankruptcy attorney like me.
Call Mike Sheridan at 763-568-7343 for more information.
This content is not meant to constitute advice of any kind, including without limitation, legal advice of any kind. If you require advice in relation to any legal matter you should consult an appropriately qualified lawyer.