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Missouri Personal Property Exemptions: The Property Creditors Can Not Touch!!!

In a U.S. federal bankruptcy case, Legal Helpers can use Missouri state law to protect very much of the equity in your personal property. Equity is the difference between the market value of your property and the claims held against it. Listed below are some of the most common types of Missouri bankruptcy exemptions that we can use to help keep creditor's hands off your cherished possessions. The Missouri bankruptcy exemptions below are intended for educational purposes only. They are not intended as legal advice, as their practical application in a bankruptcy case is often very involved. For more information contact our Missouri bankruptcy lawyers.

Homestead Missouri Bankruptcy Exemptions

Our Missouri bankruptcy lawyers can use these Missouri bankruptcy exemption to protect up to $15,000 in equity in your house. Unfortunately we can't use these Missouri bankruptcy exemptions to protect a rental property or a house you are not living in.

Motor Vehicle Exemption

Legal Helpers can use this Missouri bankruptcy exemptions to protect $1,000 in value of any one motor vehicle listed in your bankruptcy. Additionally, if you file U.S. federal bankruptcy with a spouse we can use both vehicle exemptions to protect up to $2,000 in vehicle equity as long as both you and your spouse are on the title to the car.

Clothing, Textbooks, Bible, Family Pictures Missouri Bankruptcy Exemptions

These Missouri bankruptcy exemptions allows Legal Helpers to protect $1,000 of your interest in various personal items such as your clothing and personal heirlooms.

Life Insurance Proceeds Missouri Bankruptcy Exemptions

Under these Missouri bankruptcy exemptions we can protect a payment under a life insurance contract that insured the life of an individual of whom you were a dependent, to the extent reasonably necessary for your support or the support of your dependent(s).

Alimony, Support Missouri Bankruptcy Exemptions

Legal Helpers may also be able to exempt alimony, support, or separate maintenance, to the extent reasonably necessary to help support you during your U.S. federal bankruptcy.

Proceeds of Sale of Homestead Missouri Bankruptcy Exemptions

Along with the Homestead Bankruptcy Exemptions mentioned above, we may also exempt proceeds if you sell your home within one year prior to U.S. federal bankruptcy.

Qualified Retirement Plan Missouri Bankruptcy Exemptions

Legal Helpers can prevent creditors from touching the proceeds of your hard-earned retirement plan. We can exempt anything from stock bonuses, pensions, profit sharing plans and annuities as long as we determine that your savings are in a qualified retirement plan.

Tools of the Trade, Professional Books Missouri Bankruptcy Exemptions

This is a useful exemption that we use to protect up to $2,000 of the tools you use in your profession. For example, shears, scissors and combs are the tools of a hairdresser, as are wrenches and hammers for a mechanic and carpenter.

Unemployment Compensation Benefits Missouri Bankruptcy Exemptions

Legal Helpers can protect all of your unemployment compensation from creditor's reach. However, past due child support may still be deducted from the income of people receiving public assistance during U.S. federal bankruptcy.

Worker's Compensation Missouri Bankruptcy Exemptions

Generally, we can protect 100% of compensation you receive under Missouri workers' compensation laws. Legal Helpers can protect both 100% of your wages and 100% of the award you receive to compensate you for any permanent disability. In Missouri, workers' compensation cases are 100% exempt. If you are injured while working then that is money you deserve and creditors will be prevented from reaching those funds.

Wildcard Missouri Bankruptcy Exemptions (Any Personal Property of Debtor)

Last, but probably most important of the Missouri bankruptcy exemptions are the Wildcard Missouri Bankruptcy Exemptions. Using the Wildcard Exemption in your bankruptcy case, Legal Helpers can protect up to $400 of any type of personal property. We can protect anything you own that has equity in excess of the above Missouri bankruptcy exemptions.

Learn more about Nevada bankruptcy exemptions.