Bankruptcy Law Questions? Ask a Bankruptcy Lawyer Now.
Exemptions against creditor attack are effectively the same, inside and outside of bankruptcy. The principal advantage of bankruptcy is that it discharges the ability of the creditor to reach any asset that you may acquire which does not fall within any exempt group. For example, if you were to inherit money or property, the creditor could reach that inheritance, unless you file for bankruptcy.
For a list of exemptions, see: http://www.michiganbankruptcy.com/exemptions.html.
Hope this helps.
Terms and Conditions: By your continuing in this conversation with me, or by your clicking “Accept”, you are expressly agreeing to all of the following: (1) our communication is for entertainment purposes only; (2) you are not consulting me in my professional capacity as an attorney; (3) you do not seek to establish an attorney-client relationship with me, nor do I with you; (4) you will not rely on anything I say and you will obtain appropriate legal counsel via a traditional/office consultation with an attorney licensed to practice in the jurisdiction where your legal issue arises (and you may not use our communication to avoid taxpayer penalties imposed by the U.S. Dept. of Treasury); (5) by communicating with me in this public forum you are irrevocably waiving any right to privacy, confidentiality and attorney-client privilege concerning the matters discussed. You further separately declare that any payment made by you is not consideration for this contract, nor offered for any services rendered by me on your behalf, but rather is made in genuine admiration and respect for my desire to help others. If you do not agree with these terms and conditions, then you must advise me immediately.