Bankruptcy Exemptions

Bankruptcy exemptions play a crucial role in helping you protect your most valuable assets while seeking financial relief. At Blake Goodman, PC, Attorney, we assist Maui residents in understanding how these exemptions can safeguard essential property, such as your home, car, and retirement accounts, during the bankruptcy process. Our experienced team will work with you to ensure that you maximize your exemptions and preserve as much of your property as possible while addressing your debts. Let us guide you through the complexities of bankruptcy law, so you can achieve financial freedom while protecting the assets that matter most to you.

Maui Bankruptcy Exemptions

Contact Blake Goodman, PC, Attorney Today

When it comes to bankruptcy you need to understand that it is not the end of the world as many people assume. Bankruptcy was created to help you, not hurt you! By utilizing the power of the Bankruptcy Code, our clients keep most of their personal property by claiming bankruptcy exemptions which protect their assets from creditors. Our experienced bankruptcy attorneys in Maui can help explain the different exemptions, apply them to your property, and protect your assets!

If your income can’t cover your bills, then filing for bankruptcy will help you gain control over your finances. Every person deserves a fresh start and filing for bankruptcy gives you this opportunity. We know that filing for bankruptcy on Maui can seem difficult. But we’re here to help you understand the process, make things go as smooth as possible, and help you gain the benefits of a fresh start.

Bankruptcy Exemptions to Protect Property in Maui

$25,150 of equity in your principal place of residence (homestead exemption).
$4,000 for equity in a motor vehicle.

$1,700 for jewelry.
$625 per individual item with a $13,400 aggregate value limit on household goods, furnishings, appliances, clothes, books, animals, crops, and musical instruments.
$2,525 for tools of the trade including implements and books.
$13,400 in loan value, accrued dividends, or interest in a life insurance policy.
401k plans and IRAs and Roth IRAs (up to $1,362,800).
$1,325 plus $12,575 of any unused portion of the homestead exemption to apply as the Wildcard exemption for any property you like.
Spousal support, child support, life insurance payments needed for support, all Social Security benefits, unemployment benefits, veteran’s benefits, public assistance, and disability benefits are also exempt.

To set up a free case consultation with of our attorneys, please call (808) 725-2256 today.

I was very pleased with the outstanding service.

"I was very pleased with the outstanding service you provided. You and your staff consistently made extra efforts in assisting me with my bankruptcy case. I will definitely recommend your business to others because of my satisfaction with your service."

Phetsamone Vuong

Mr. Goodman and his staff were great.

"Mr. Goodman and his staff were great and worked with me every step of the way."

Randi Brown

Responsive, knowledgeable, and very thorough.

"Blake Goodman provided professional and outstanding legal advice. They are responsive, knowledgeable, and very thorough. I would recommend his firm with complete confidence knowing that they will receive the best possible service."

Moune Romano

I’m very grateful to Mr. Goodman.

I’m very grateful to Mr. Goodman for the effort and patience he had with me and my daughter. I appreciate it. As for his staff members, they are very kind. My grand-daughter reports to me that Mr. Blake Goodman is a very highly honored attorney.

Martha Aki

Everything is possible with you. Thanks on a job well done!

I am very pleased with your services and would wholly recommend your excellence to everyone. I am happy with the outcome of my case. Everything is possible with you. Thanks on a job well done!

Randy Borges

Mr. Goodman and his staff are so nice and personable.

When I first came to Mr. Goodman’s office, I was prepared to file bankruptcy – I was tens of thousands of dollars in debt and could see no way out. He helped me work out a payment plan then negotiated with my creditors on my behalf...

Steve