![The Federal Wildcard Exemption The Federal Wildcard Exemption](https://www.espanol.pankinlaw.com/wp-content/uploads/2015/07/page-banner-721x407.jpg)
The Federal Wildcard Exemption
In a bankruptcy case, the property of the debtor is classified in one of two ways: exempt property and non-exempt property. Exempt property is the property the debtor is allowed to keep, while non-exempt property can potentially be liquidated and distributed to creditors. There are exemptions for a wide variety of personal property of the…