Are there any assets I can exempt in Chapter 13 Bankruptcy?

Yes, you may be able to exempt certain assets in Chapter 13 Bankruptcy in New York. The state of New York does not have a list of exemptions as such, but it does provide you with certain standard exemptions you may be able to use in your bankruptcy. These include up to $10,000 of equity in your home, up to $10,000 of equity in a motor vehicle and up to $1,000 of equity in certain household goods and furnishings. In addition, New York law allows you to keep any assets that are exempt under federal law. These include Social Security benefits, pensions, your primary home, burial plots, certain life insurance policies and certain tools of trade. It is important to note that these exemptions may not apply in all cases, and you may be able to exempt more or less depending on your individual circumstances. Finally, you also have the option of filing a “Wildcard” exemption in New York. This allows you to exempt up to $1,125 of any property with a value of $25,000 or less, and up to 50% of any property with a value of more than $25,000. This exemption is great for people who don’t have much property, but want to keep some items of personal value. In conclusion, there are a variety of assets you may be able to exempt in Chapter 13 Bankruptcy in New York. It is important to review your individual circumstances and consult a bankruptcy attorney to ensure you make the best decisions for your financial future.

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