Alabama

ALABAMA
Exemptions or Assets that can be kept in a Bankruptcy
In general, a debtor may claim exemption of his homestead and certain personal property from attachment and execution of a judgment, or in a bankruptcy proceeding. The Alabama statutes permit exemption of a debtor's homestead up to the amount of $5,000.00 (C.O.A. 6-10-2); and personal property up to the value of $3,000.00. In addition, all family portraits or pictures and all books used in the family are exempt from levy or sale. (C.O.A. 6-10-6.) In a bankruptcy proceeding, a debtor, who is a resident of Alabama, is not permitted to elect the exemptions provided under the federal Bankruptcy Code even though the federal exemptions may be more beneficial in his situation. (C.O.A. 6-10-11.)

alabama homestead ex stinks 5000 in 2008 is a joke a stinking joke hell mississippi is 75k thats more like it ala goverment continues to berate ala citizens move in to this century alabama

lp1967, this original post is from 2004. Please do not post to old threads like this - it's against our forum rules. These old threads can contain wrong information, so please in the future, please create a new thread of your own if you need to ask a question or make a comment - thanks!

Here's a link to the current Alabama bankruptcy exemptions - http://www.alabamabankruptcy.com/exemptions.html

Unfortunately the homestead exemption is still just $5000. There is a $3000 wild card that you can use for any property, but it looks like most filers in Alabama use this to protect their household belongings and cash since Alabama has no special categories for this.