Christopher Kerney,
Attorney at Law


Christopher Kerney,
Attorney at Law


What Is Exempt? Which Possessions May I Keep?

One of the main reasons people do not take advantage of the protection that bankruptcy can offer is a mistaken fear that they will have to give up property that means a lot to them such as homes and vehicles. The bankruptcy process is designed to help get you back on your feet, not to penalize you for suffering some financial hardship. Working with an experienced bankruptcy lawyer can help ensure that you are able to make the most of the bankruptcy process while preserving your important assets.

Our firm has extensive experience focusing exclusively on bankruptcy. We know how to make the process work for our clients and how to protect their property.

Either a Chapter 7 or a Chapter 13 bankruptcy can help you protect the possessions you want to keep – such as a car, truck or boat.

Protecting What Is Yours

In the state of Tennessee, you are allowed to keep (exempt) 100% of certain items. Some of the items that are 100% exempt include:

  • Clothing
  • Retirement accounts such as 401(k), IRA, Keogh
  • Life insurance in most cases
  • Social Security benefits
  • Burial plots
  • Family bibles and school books
  • It is not necessary to exempt property in which you have no equity. You get to keep it as long as you pay any creditor that has a security interest in the property.

You can exempt equity you may have in certain other items, and keep those items, but there are dollar limits. Exemption law in this area is very complicated and may vary depending on your individual circumstances. Again, working with the right attorney can help you get a fresh financial start while preserving:

  • Equity in your home
  • Equity in your car, truck or other form of transportation
  • Equity in your household goods
  • Equity in tools of your trade such as carpentry tools.
  • Equity in your checking account and in some cases, your savings accounts
  • Equity in firearms
  • Equity in other personal property of any kind within limits

Focused Exclusively On Bankruptcy

At Christopher Kerney, Attorney at Law, we are skilled at preserving our clients’ assets during the bankruptcy process. Attorney Christopher Kerney previously represented creditors and lenders in bankruptcy proceedings. That experience on the other side allows him to provide you with highly effective representation that understands how the other side might approach your case.

For more information about how bankruptcy can help you, please review our FAQ page.

Exempt Property Attorney Serving Gallatin And The Surrounding Areas

Everyone deserves to protect as much of their property as possible when they are going through bankruptcy. We can help make sure your property is treated appropriately. To schedule a free initial consultation, call 615-206-3004 or contact us online.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.