What Property is Exempt?

DFW Bankruptcy Attorneys – Property Exemptions

TX Chapter 7 & 13 Bankruptcy Property Exemptions

During a Chapter 7 bankruptcy, a Court trustee is appointed to manage your bankruptcy case. It’s your trustee’s job to disburse funds to your creditors if you have valuable property that may be liquidated to pay off your debts. Although this may sound intimidating, most Chapter 7 Bankruptcy cases are “no-asset” cases, meaning that you have no nonexempt assets in which to pay your creditors.

The experienced DFW bankruptcy attorneys at Fears Nachawati Law Firm can assist you with your bankruptcy paperwork and will walk you through compiling a list of your personal property and explain what can and cannot be protected. Typically, all personal property is protected in Chapter 7 or Chapter 13 filings.

If you are an individual or a couple, and plan on filing for Chapter 7 bankruptcy, you are allowed to choose either Federal or Texas State property exemptions to protect your hard-earned assets. You cannot utilize both state and federal exemptions.

Exempted Personal Property

We provide detailed information about homestead exemptions and automobile exemptions in other sections of this website. Please click on the links above to access those pages.

Here is a partial list of personal property which may be exempt under Texas Bankruptcy law:

  • Family Heirlooms
  • Home Furnishings
  • Food
  • Clothing
  • 2 Firearms
  • Bicycles; Sports and Athletic Equipment
  • Spousal and Child Support
  • Public Assistance; Unemployment or Worker’s Compensation
  • Health, Accident, Life or Annuity Benefits (Insurance)
  • Earned but Unpaid Wages
  • Tax Exempt Retirement Accounts and Pensions
  • Household Pets; 120 Fowl; 12 Head Cattle; 60 Head Other Livestock
  • Health Savings Accounts
  • Tools of the trade, including apparatus, books, and equipment. This includes any motor vehicles or boats used in your profession or trade.

The DFW bankruptcy attorneys at Fears Nachawati Law Firm can help you claim every available exemption in order to protect your hard-earned assets. Contact our office today at to schedule a free case evaluation and to find out if you qualify for Chapter 7 bankruptcy protection.