Alabama State Bankruptcy Exemptions
Laws That Keep Your Creditors' Hands Off Your Property
Exemptions are laws passed by every state that allow you to protect certain
types of your property from your creditors when you file bankruptcy-such as
your home, car, pensions and IRAs, motor vehicles, clothing, tools, and other
important property. Alabama law provides a number of exemptions that protect
your property, and your attorney will be able to advise you on which exemptions
are best for you.
Homestead
Up to $5,000 in the equity of your home can be protected (a mobile home
or similar dwelling constitutes a homestead if it is your principal residence).
Wages
75 percent of your weekly, disposable earnings are exempt.
Automobiles
No specific automobile exemption.
Other Property
Up to $3,000 in the value of all personal property.
Note: Exemptions may have changed since our last update. For the latest updates on these property exemptions, speak to a local bankruptcy lawyer.
» Read the complete Alabama bankruptcy
exemptions here
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