Many people who consider filing for bankruptcy worry that they could lose all of their property or possessions in bankruptcy. However, Arizona law, like most other states, makes certain types of property exempt.

If a property is deemed exempt, it cannot be seized and sold by creditors or lenders in bankruptcy cases. The Arizona exemptions include furniture and home appliances totaling $4,000 or less, an automobile worth $5,000 or less, cash in an account up to $150, and books or other personal documents worth at most $250. 

If you are considering filing for bankruptcy and have questions  about which of your property is exempt, contact the Arizona bankruptcy lawyers of the Harmon Law Office, LLC, at 480-829-0494.