Nebraska Bankruptcy
Chapter 7 bankruptcy is designed to eliminate debt and silence creditors. Learn what bankruptcy may be able to do for you by talking to a Nebraska bankruptcy attorney today.
We can connect you to a local Nebraska bankruptcy lawyer—for free and with no obligation. All you have to do is take the first step: plug in your ZIP code and complete our free 2-minute bankruptcy evaluation form to get started.
Filing Chapter 7 Bankruptcy in Nebraska
If you’re considering filing for Chapter 7 bankruptcy in Nebraska, you’re probably wondering what to expect. Here at Chapter7.com, we outline some of the basics of Chapter 7 bankruptcy so you know what to expect when you begin your case.
We can also connect you with a Nebraska bankruptcy lawyer who can guide you through the process of Chapter 7 bankruptcy. Just fill out the above free form and we’ll put you in touch with a lawyer practicing in your area of Nebraska.
Chapter 7 Bankruptcy: Nebraska’s Exemptions
Chapter 7 bankruptcy is known as a “liquidation” bankruptcy because of the process of repaying creditors. Liquidation refers to the act of converting an asset to cash. In a Chapter 7 bankruptcy case, bankruptcy trustees sell off non-exempt possessions to raise money to pay off creditors.
See what property is exempt under Nebraska bankruptcy law:
Homestead: Up to $60,000 is exempt for a family residence not to exceed 160 acres.
Wages:
- 85 percent of the wages of your head of household.
- 75 percent of wages for non-heads-of-household.
Vehicle: Up to $2,400 for a vehicle if used by or in your commute to your main business or trade.
Personal Property:
- Up to $2,500 worth of any personal property.
- Up to $1,500 worth of household possessions.
- Up to $2,400 worth of trade tools, implements, professional books, supplies.
- 100 percent of the value of all professionally prescribed healthy aids.
Talk to a Nebraska Chapter 7 Bankruptcy Lawyer Today
Nebraska’s exemptions can be difficult to decipher if you don’t have a law degree. Many Nebraskans find they need help from a bankruptcy lawyer to determine the value of their home or personal possessions.
No matter where you are in the process of filing for Chapter 7 bankruptcy, you may benefit from talking with a Nebraska bankruptcy lawyer. We make find a Nebraska bankruptcy attorney easy–all you need to do is call us at 877-226-6844 or complete the above free form and we’ll connect you with a Nebraska bankruptcy lawyer today.
Note: Keep in mind all laws are complex. If you need legal advice or want to fully understand how these laws affect you, please speak with a local attorney.
Laws may have changed since our last update. For the latest information on your state’s bankruptcy laws, speak to a local bankruptcy lawyer.