Legal Question in Bankruptcy in Wisconsin

Federal Exemptions in Chapter 7 Bankruptcy

I would like to know the amount of personal savings the Federal exemptions allow a person to claim in a Chapter 7 Bankruptcy.Is the homestead exemption of $16,500 doubled to $33,000 for a married couple filing jointly?Is there a wild card?Is there a lump sum?Can any unused portion of the homestead be applied anywhere else?


Asked on 8/02/00, 11:35 am

1 Answer from Attorneys
JAY Nixon nixon law offices

Re: Federal Exemptions in Chapter 7 Bankruptcy

The federal "wildcard", or unused portion of the

homestead exemption, is subject to "doubling"

for each spouse in WI, as is the federal

homestead exemption itself. The wildcard limit is

currently $8,600 per debtor. Send me a private e-

mail for further detail.

Read more
Answered on 9/14/00, 4:37 pm


Related Questions & Answers

More Bankruptcy Law questions and answers in Wisconsin