Federal Non-bankruptcy Exemptions

Apart from the choice between state and federal exemptions available for bankruptcy filers, additional exemptions in the form of federal non-bankruptcy exemptions are available. Individuals who are unable to cope with defaulting on payments and file for bankruptcy can heave a sigh of relief. People can take advantage of exemptions outside the bankruptcy code to help protect their assets when they file for bankruptcy. As these exemptions exists outside bankruptcy code, they are termed as federal non-bankruptcy exemptions. It is therefore important to have a sound understanding of the exemptions under this heading to save your property in [...]