Bankruptcy Exemptions

What are bankruptcy exemptions and why do they matter?

An exemption can be defined as the exercise of a right of an individual demonstrating that he or she may hold or retain property of a particular classification or specified dollar amount free from the claims of a creditor.  

Understanding how the Bankruptcy Code allows people to protect their property often eases the concerns of our clients.  Filing for bankruptcy relief to eliminate debt may be beneficial; however, it is also important to understand how and to what extent the Bankruptcy Code can help you protect your assets.  The easiest way to understand how exemptions operate in individual bankruptcy cases is accomplished with the illustration below.


The residents of Pennsylvania have the option to select the state exemptions or the federal exemptions to protect their assets.  There are advantages to using the state exemptions at times.  However, most of our clients select the federal exemptions because they are typically more generous and the most widely used exemptions by our clients.

Call an experienced bankruptcy attorney to discuss what's best for you

We know your pain because we've been there. Our founder had to deal with the overwhelming consequences of bankruptcy and climb his way back to financial freedom - we're here to help you do the same.

Don't forget that we offer a free consultation! Contact us online or call us at 877-827-9006 to discuss how exemptions can help you protect your property in a bankruptcy case . You always have a friend to turn to at Harold Shepley & Associates, and we're waiting to hear from you. Call today, there is always hope.

  • Over 1 million businesses and individuals file for bankruptcy each year.

  • Most often, events beyond your control are responsible, including medical expenses, reduced income, job loss, and foreclosure.

  • Regardless of your circumstances, you need an experienced hand to help you in setting things right again.

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For more information on debt relief, the other services we offer, or on what sets us apart from your average firm, please - call us today!

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Somerset, PA 15501

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Harrisburg, PA 17110

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Altoona, PA


201 Cayuga Ave, Suite 11
Altoona, PA 16602

Debt Relief from Pennsylvania Bankruptcy Attorneys

We serve clients throughout all of Pennsylvania with Bankruptcy, Debt Negotiation, Mortgage Foreclosure Defense, Divorce, and Estate Planning. Though we have two offices, no travel is necessary.

We service Pennsylvania clients from Pittsburgh, Harrisburg, Philadelphia, Altoona, Bedford, Blairsville, Connellsville, Cranberry, Ebensburg, Greensburg, Huntingdon, Johnstown, Indiana, Lancaster, Monroeville, New Kensington, State College, Somerset, Uniontown, Washington, Wexford and throughout the state.

This website is intended to provide general information only. The information presented at this site should not be construed to be formal legal advice nor the formation of a lawyer/client relationship.