Mahaffey & Associates, LLC
Call For A Free Consultation 888-422-6894
Email Us

Protecting your property during an Ohio bankruptcy

Are you struggling with insurmountable debt but are worried you will lose everything if you decide to file for bankruptcy? Don't let your fears stop you from getting the fresh financial start you desperately need - especially since you may be able to keep much of your property following the bankruptcy process.

In fact, by using Ohio's bankruptcy exemptions, you can protect certain assets from bankruptcy proceedings - meaning you get to keep them after your personal bankruptcy is complete. However, there are certain limits to the amount of property you can protect from creditors. For instance, in 2017, the limits on the Ohio bankruptcy exemptions include:

  • $136,925 home(stead) exemption
  • $3,775 motor vehicle exemption
  • $475 cash exemption
  • $600 exemption on any individual household item or $12,625 aggregate exemption on all household items, including furnishings, clothes, books, etc.
  • $1,600 jewelry exemption
  • $2,400 exemption on profession tools and books
  • $1,250 wildcard exemption that can be used on any property

However, it is important to point out that these are merely of few of the many types of property that you can protect during an Ohio Bankruptcy. Also, we must mention that the exemptions listed above may change with inflation, which is one reason you should always consult with an experienced bankruptcy attorney should you have any questions.

A skilled lawyer can explain your rights and help you develop the best bankruptcy strategy available - one that will protect the most property and help you get the fresh start you need.

No Comments

Leave a comment
Comment Information
Tell Us About Your Legal Need

Tell Us About Your Problem

Bold labels are required.

Contact Information

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.


Privacy Policy

A Full Service Firm For Northwest Ohio with Three Convenient Locations 24/7 Phones And Appointments Taken at 888-422-6894

Sylvania Office
8527 Central Avenue
Sylvania, OH 43560

Toll Free: 888-422-6894
Phone: 419-829-2255
Sylvania Law Office Map

Northwood Office
3200 Woodville Road
Northwood, OH 43619

Toll Free: 888-422-6894
Phone: 419-693-5515
Northwood Law Office Map

Toledo Office
3131 Executive Parkway, Suite 100
Toledo, OH 43606

Toll Free: 888-422-6894
Phone: 419-472-5555
Toledo Law Office Map