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Las Vegas Bankruptcy Lawyers
When an individual files for bankruptcy, there are usually two options they have for relief:
  • Chapter 7 Bankruptcy – If a debtor qualifies a Chapter 7 Bankruptcy, the bankruptcy trustee appointed to your case will administer your bankruptcy estate by selling off any non-exempt property and then distributing the proceeds to your creditors. The borrower keeps all exempt assets post discharge.

See a list of the common Nevada Bankruptcy Exemptions HERE.
  • Chapter 13 Bankruptcy – If a debtor qualifies for a Chapter 13 Bankruptcy, they will get to keep most of their personal assets. However, the trustee appointed to administer the bankruptcy estate will approve a structured payment plan based upon the greater of your non-exempt property, your disposable income, or your non-dischargeable debt (usually support obligations, most tax liens, etc.). The re-payment plan usually lasts three to five years and once completed the debtor receives a full discharge and fresh start.

Man in Suit Signing
Common Bankruptcy Exemptions List

When filing for bankruptcy, there are a few exemptions in place that help protect some or all of your property.

Joint filings: Generally, in Nevada, when spouses file together, each can claim the full exemption amount, which is informally referred to as “doubling," as long as both spouses had ownership interest.

Exemptions: To claim an exemption, you must list it on your official bankruptcy forms. You may qualify for non-standard exemptions or you may be required to meet certain qualification requirements.


Listed below are the statutes in the federal law or the Nevada Revised Statutes.

Nevada Homestead Exemption

21.090(1)(l), (m); 115.010; 115.020 - The homestead or dwelling, which includes a residential property, mobile home, or condominium, as long as the debtor’s equity in such property does not exceed $605,000. The exemption applies to the homestead, not the homeowners individually, so spouses cannot double it and the homeowner(s) must record a homestead declaration before filing for bankruptcy (115.020).

Nevada Motor Vehicle Exemption

21.090(1)(f) - One motor vehicle if debtor’s equity in it does not exceed $15,000. The equity limit does not apply to a vehicle owned by the debtor, which is equipped for a person with a disability, either the debtor or a dependent of the debtor (21.090(1)(p)).

Nevada Wildcard Exemption

21.090(1)(z) - Any personal property, excluding real estate, not otherwise exempted by the laws valued up to $10,000 to be selected by the debtor.

Personal Property

21.090(1)(a) - Books, art, musical instruments, and jewelry up to a total value of $5,000. To be selected by the debtor.

21.090(1)(b) - Necessary household goods, furniture, electronics, clothing, appliances, and yard equipment up to $12,000 total. To be selected by the debtor.

21.090(1)(i) - All arms, uniforms, and related uniform items debtor is legally required to keep and one gun, to be chosen by the debtor.

21.090(1)(q) - Any equipment or health aids prescribed by a doctor or dentist for use by the debtor or a dependent of the debtor.

21.090(1)(r) - Money held in various financial accounts or instruments, not to exceed $1,000,000

21.090(1)(s) - Court ordered child support payments received by the debtor.

21.090(1)(t) - Court ordered payments for support of former spouse to which the former spouse is entitled.

21.090(1)(u) - Personal injury awards up to a total value of $16,150.

21.090(1)(v) - Compensation received for the wrongful death of someone upon whom the debtor was a dependent at the time of the wrongful death.

21.090(1)(w) - Compensation received for loss of future earnings of the debtor or of a person upon whom the debtor is a dependent at the time the compensation is received.

21.090(1)(x) - Restitution received for criminal acts.

21.090(1)(y) - Social security payments.

21.090(1)(aa) - Earned state and federal income tax refund.

21.090(1)(bb) - Stock in certain corporations

Other Property

21.090(1)(c) - Farm trucks, stock, tools, equipment, and any related supplies and seed up to a total value of $4,500. To be selected by the debtor.

21.090(1)(d) - Professional libraries, equipment, supplies, and the tools, inventory, instruments and materials used to carry on the debtor’s trade or business up to a value of $10,000 so that the debtor may continue to support themself or their family.

21.090(1)(e) - The cabin or dwelling of a miner or prospector and any related mining equipment necessary to carry on the mining operations and the mining claim worked on by the miner or prospector not to exceed $4,500

21.100 - Metal-bearing ores, geological specimens, paleontological remains, or art curiosities that are arranged, classified, cataloged, and numbered in books, excluding coin collections.

Public Benefits

422.291; 21.090(1)(kk); 422A.325; 615.270 - Aid and public assistance to the blind, aged, and disabled.


21.090(1)(cc), (dd) - Distribution interests in some trusts.

21.090(1)(ee) - Proceeds received from a private disability insurance plan.

21.090(1)(ff) - Money in a trust fund for funeral or burial services.

21.090(1)(hh) - Unemployment benefits.

21.090(1)(ii) - Benefits or refunds from the Public Employees’ Retirement System.

21.090(1)(kk) - Public assistance provided through the Department of Health and Human Services.

21.090(1)(ll) - Child welfare assistance.

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