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What are exemptions?

Debtors are allowed to claim certain property, both real and personal, as exempt under the Bankruptcy Rules.  Here in Indiana, with some limited exceptions, debtors are limited to the exemptions provided by state law.  These exemptions amounts can be found in Indiana Code §. 34-55-10-2.Debtors are allowed to claim certain property, both real and personal, as exempt under the Bankruptcy Rules.  Here in Indiana, with some limited exceptions, debtors are limited to the exemptions provided by state law.  These exemptions amounts can be found in Indiana Code §. 34-55-10-2.
 
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