Bankruptcy Personal Property Exemptions in Alabama

Bankruptcy can leave someone without most of their property, trying to pick up the pieces of their restarted finances. However, many states offer exemptions for certain types of personal property. These exemptions are meant to allow debtors to keep items that may hold great emotional worth, despite having low market value. In the state of Alabama, some of these exemptions may be for items that are somewhat unexpected.

One of the most valuable pieces of property protected under personal property exemptions is a person’s burial plot. Oftentimes, a person may purchase a burial plot around their family’s remains. This land may not be incredibly valuable, but it can hold tremendous personal worth for that individual.

Family pictures and portraits are also considered exempt under Alabama’s bankruptcy laws. These items may be practically worthless to any objective buyer, but the debtor may want to hold on to these memories through the bankruptcy. Depending on the specific circumstances, the frame around a portrait may not be protected under this exemption.

In addition to pictures and plots, books are protected under Alabama law from bankruptcy. Books are inexpensive forms of entertainment that may be all that is left after a bank takes away televisions and more costly devices. These items may also prove useful for a debtor as educational references or some other method to improve their current financial situation.

If you are facing bankruptcy and need legal assistance, we may be able to assist you. To learn more about our legal services and what we may be able to do for you, contact the Birmingham bankruptcy lawyers of Greenway Law, LLC, today by calling 205-324-4000.