Exemptions for Property in Washington D.C. Bankruptcy Proceedings
- Personal Residence Exemption
Our bankruptcy lawyers can often use this exemption to safeguard most of the equity in your home.
- Motor Vehicle Exemption
Our Washington D.C. bankruptcy attorneys use this exemption to protect a portion of the value of an automobile listed in your bankruptcy filing.
- Clothing, Textbooks, Bible, Family Pictures Exemption
Our District of Columbia bankruptcy attorneys use this exemption to protect a portion of the equity in various personal items such as your clothing and personal heirlooms.
- Life Insurance Proceeds Exemption
Using this exemption our Washington D.C. bankruptcy attorneys can protect life insurance payments made to you from a policy under which you were a dependent, as long as that amount is reasonably necessary to support you and your dependents.
- Qualified Retirement Plan Exemption
The bankruptcy attorneys at Ammerman & Goldberg can protect a portion of the proceeds from your retirement plan including stock bonuses, pensions, profit sharing plans, and annuities, as long as your savings are in a qualified retirement plan.
- Tools of the Trade, Professional Books Exemption
This exemption can be used to protect a portion of the tools you use in your profession. This is an important exemption as it allows for uninterrupted work in you chosen profession.
- Unemployment Compensation Benefits Exemption
Our District of Columbia bankruptcy attorneys can protect all of your unemployment compensation. We cannot protect past due child support from being deducted from the income of people receiving public assistance.
- Workers' Compensation Exemption
Our Washington D.C. bankruptcy attorneys can protect all of your wages and the settlement you receive as compensation for a permanent disability. Workers' compensation settlements are completely exempt in District of Columbia bankruptcy actions.
- Wildcard Exemption; (Any Personal Property of Debtor)
Our Washington D.C. bankruptcy attorneys can use the Wildcard Exemption to protect a specified amount of any kind of personal property.