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What you can keep to make a fresh start!


The dollar amounts and the specific items vary from state to state.

The following are some typical examples of property (and their dollar ceilings, if applicable) that you can keep (if married and filing jointly, the dollar amounts given below are doubled) are:

  • A car, up to $1,200 in equity (this can vary)
  • Clothes
  • Household goods and furniture, up to $200 per item
  • Appliances
  • Your principal home, up to $7,500 in equity
  • Personal effects, up to $200 per item
  • Jewelry, up to $500
  • Professional tools, up to $750
  • Income from social security, disability, public assistance, unemployment, pension funds, life insurance, alimony or veteran's benefits
  • Unpaid but earned wages
  • Pensions
  • Miscellaneous property, such as life insurance money from a relative's death, etc.Here are the debts that don't get discharged in bankruptcy:

Here are the debts that don't get discharged in bankruptcy:

  • Alimony and child support
  • Some obligations for property settlement in divorce
  • Student loans
  • Debts arising from fraud or theft
  • Criminal restitution

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