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What Can I Keep?

Many people put off considering bankruptcy as a form of debt relief because they are afraid of losing valuable assets in the process. Old stereotypes about bankrupt debtors kicked to the curb with only the clothes on their backs persist as do other myths about bankruptcy. In fact, filing bankruptcy may offer the greatest opportunity to preserve a manageable lifestyle without the burden of unmanageable debt. Filing bankruptcy can free you immediately of the threat of repossessions, foreclosure, wage garnishment or bank account levies.


The question of “What can I keep?” in bankruptcy is best answered through an understanding of state and federal exemptions. Exemptions mean those assets that a bankruptcy filer is allowed to set aside and keep, out of reach of the bankruptcy court’s management. Exemptions typically include:

  • One’s home, depending on levels of equity and the status of one’s mortgage
  • A motor vehicle up to a certain dollar value
  • Personal possessions such as household goods up to a certain dollar value
  • Jewelry up to a certain dollar value
  • Tools of a trade
  • Retirement accounts

Contact Fesenmyer Cousino Weinzimmer in Columbus, Dayton or Cincinnati, Ohio, for more information. Explore and discuss specifics regarding exemptions with the help of an attorney who can evaluate your particular financial circumstances. Compare federal bankruptcy exemptions and Ohio bankruptcy exemptions with regard to your specific situation and decide which exemptions you would apply if you choose to file bankruptcy.

Schedule A Consultation With A Bankruptcy Lawyer For Answers And Peace Of Mind

Send an email inquiry or call 614-228-4435 (Columbus), 937-222-7472 (Dayton), or 877-654-5297 (Cincinnati).

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.

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