Among the schedules that your Dayton bankruptcy attorney will file in a Chapter 7 bankruptcy is a schedule of “exempt” property. The Bankruptcy Code allows an individual debtor (4) to protect (and therefore retain) some property from the claims of creditors because it is exempt under federal bankruptcy law or under the laws of the debtor’s home state. 11 U.S.C. § 522(b). Some of the Ohio Exemptions (O.R.C. 2329.66) are listed below:
1) Personal residence = $20,200
2) Motor vehicle = $3,225
3) Cash = $400
4) Household Items (aggregate) = $10,775
5) Jewelry = $1,350
6) Tools of trade = $2,025
7) Award for personal bodily injury (received within 12 months of bankruptcy) = $20,200
8) Retirement Account Funds = Unlimited
To learn more about bankruptcy, or to discuss your personal financial situation with an experienced Dayton bankruptcy attorney , please contact your Dayton bankruptcy attorney today at Helen Wallace, Attorney at Law by clicking on the preceding link, by e-mail to email@example.com or by telephone to (937) 654-6800.
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