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    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.)
    www.BankruptcyForum.com

    #2
    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

    Comment


      #3
      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.
      I am not a lawyer and this is not legal advice nor a statement of the law - only a lawyer can provide those.

      06/01/06 - Filed Ch 13
      06/28/06 - 341 Meeting
      07/18/06 - Confirmation Hearing - not confirmed, 3 objections
      10/05/06 - Hearing to resolve 2 trustee objections
      01/24/07 - Judge dismisses mortgage company objection
      09/27/07 - Confirmed at last!
      06/10/11 - Trustee confirms all payments made
      08/10/11 - DISCHARGED !

      10/02/11 - CASE CLOSED
      Countdown: 60 months paid, 0 months to go

      Comment

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