San Diego Bankruptcy Attorney - http://www.youtube.com/user/attyofsandiego
Although bankruptcy cases are filed in the United States Bankruptcy Court, they are often highly dependent upon state laws. Hawaii is one of the thirteen states in the U.S. that offers a choice between federal and state bankruptcy laws. Declaring bankruptcy is an important decision and quite complicated in its implementation. Hiring an attorney with experience in the field concerned is generally recommended.
An exemption in bankruptcy allows a debtor to keep certain property or assets even after bankruptcy is filed. The exemptions are defined by statute and exempt property cannot be seized or sold to satisfy the debts of the person filing for bankruptcy.
Who Can File a Bankruptcy Exemption?
Any individual who files for bankruptcy can file for bankruptcy exemptions. Exemptions are available for chapter 7 and chapter 13 bankruptcy filings, but the exemptions vary from state to state.
