What exemption law to cite for my property if I’m in schedule C? 13 Answers as of May 27, 2014

I will just be listing a few basic things including a 92 Honda civic worth $500, LG phone worth $75, a small amount of cash on hand and in my bank account just a couple hundred.

Ask a Local Attorney. 100% Anonymous. Free Answers.

Free Case Evaluation by a Local Lawyer: Click here
Law Office of Susan G. Taylor
Law Office of Susan G. Taylor | Susan G. Taylor
If you've been in Texas for 2 years, it sounds as if the federal exemption scheme is best suited for your bankruptcy.
Answer Applies to: Texas
Replied: 5/27/2014
David R. Fondren, Attorney at Law
David R. Fondren, Attorney at Law | David R. Fondren
You are required to use Missouri exemptions. This is extremely important. It is the starting point to determine what you get to keep. If you never claim an exemption it is waived and the trustee can sell it. You are also required to list all of your property. Even if it is exempt! You sign everything under penalty of perjury and will be under oath at the meeting of creditors. It is a standard/required question for trustees to ask if you listed all of your assets and everything you have any interest in. Messing this up can cost you not only the property, but your discharge as well.
Answer Applies to: Missouri
Replied: 5/22/2014
The Law Office of Darren Aronow, PC
The Law Office of Darren Aronow, PC | Darren Aronow
That depends if you are asserting your NYS exemptions or your federal exemptions. You have to choose one or the other.
Answer Applies to: New York
Replied: 5/14/2014
EDWARD P RUSSELL | EDWARD P RUSSELL
You will use the federal exemptions; the car is exempted by Sect. 522 (d) (2) and the other miscellaneous by Sect. 522 (d) (5).
Answer Applies to: Minnesota
Replied: 5/13/2014
GARCIA & GONZALES, P.C.
GARCIA & GONZALES, P.C. | Richard N. Gonzales
Simply Google something like this: Colorado Exemption Laws, or California Exemption Laws, etc (insert your State). This will give you all the information you need. Good luck!!
Answer Applies to: Colorado
Replied: 5/12/2014
    Law Office of Peter M. Lively
    Law Office of Peter M. Lively | Peter M. Lively
    You should consult with an attorney for a review of all of your assets and the proper choice and application of exemptions. You can also review the California Code of Civil Procedure Sections 703 and 704.
    Answer Applies to: California
    Replied: 5/8/2014
    Idaho Bankruptcy Law | Paul Ross
    Every item of property may have a different exemption. These are highly specific. It also matters if you are claiming federal exemptions or state exemptions. In Idaho you may only claim Idaho exemptions (for the most part).
    Answer Applies to: Idaho
    Replied: 5/8/2014
    Janet A. Lawson Bankruptcy Attorney
    Janet A. Lawson Bankruptcy Attorney | Janet Lawson
    If you are in California, the "703" set. Look up California Code of Civil Procedure Section 703. They are all there.
    Answer Applies to: California
    Replied: 5/8/2014
    A Fresh Start
    A Fresh Start | Dorothy G Bunce
    In most states, exemptions are created under state laws, so you will need to cite to the exact state law that applies to the type of property you want to protect. There are far too many sections of the law to list them all in Nevada, but you can start by looking at NRS 21.090(1) which contains sections from a - z and aa - kk.
    Answer Applies to: Nevada
    Replied: 5/8/2014
    Law Offices of Eric W. I. Anglin
    Law Offices of Eric W. I. Anglin | Eric W. I. Anglin
    It depends on the state in which you reside or your prior state's exemptions if you have moved recently.
    Answer Applies to: Indiana
    Replied: 5/8/2014
    Law Office of Lynnmarie A. Johnson
    Law Office of Lynnmarie A. Johnson | Lynnmarie Johnson
    Each of those things are different exemptions. I would go to the US trustee's web site and look each one up. Good luck!
    Answer Applies to: Michigan
    Replied: 5/8/2014
Click to View More Answers:
12 3 Free Legal QuestionsConnect with a local attorney