What happens if I claim too much as exempt?

The trustee has 30 days after the § 341 meeting to object to your claimed exemptions. If an objection is sustained, the non-exempt portion of that asset may be sold for the benefit of creditors. Over-claiming is risky; under-claiming is costly. When in doubt, consult a bankruptcy attorney.

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Chapter 7 / Chapter 13

Schedule C — Your Exemptions

Q: What is Schedule C in bankruptcy?

Schedule C (Official Form 106C) is the exemption schedule filed with your bankruptcy petition. It lists which assets you are claiming as exempt from the bankruptcy estate under 11 U.S.C. § 522. Exempt property is protected from sale by the trustee.

Q: Should I use federal or state exemptions?

It depends on your state. Some states (like Alaska, Arkansas, Connecticut) allow you to choose between the federal § 522(d) exemptions and the state exemptions; a filer uses one set or the other, not both. Other states (like Alabama, Arizona, California) have opted out of the federal scheme and require state exemptions. Verify your state's rules before filing; which set applies, and how each protects your assets, is your determination.

Q: What is the wildcard exemption?

The federal wildcard exemption (11 U.S.C. § 522(d)(5)) lets you exempt up to $1,675 of any property, plus up to $15,800 of any unused homestead exemption. It is useful for protecting cash, a second vehicle, or other assets not covered by specific exemptions. Many states have analogous wildcard provisions.

Official Form 106C lets you claim specific property as exempt from the bankruptcy estate, protecting it from liquidation by the trustee. You choose either the federal exemption scheme (11 U.S.C. § 522(d)) or your state’s exemptions, then list each asset you are claiming along with the authorizing statute. The wizard is free, no signup required.

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Debtor information

Enter your name and case number exactly as they appear on your bankruptcy petition. If you don’t have a case number yet, leave it blank.

Debtor full legal name

Case number (if assigned)

Common questions

What is Schedule C in bankruptcy?

Schedule C (Form 106C) lists the property you are claiming as exempt from the bankruptcy estate. Exempt property is protected — the trustee cannot sell it to pay creditors.

Should I use federal or state exemptions?

Depends on your state. Some states opt out of the federal scheme (e.g., Utah, Texas) and require state exemptions. States that allow a choice — pick whichever protects more of your property.

What is the wildcard exemption?

Under § 522(d)(5), you can exempt up to $1,675 of any property plus unused homestead exemption (up to $15,800). Useful for protecting cash or assets not covered by specific exemptions.

What if the trustee objects to my exemptions?

The trustee has 30 days after the § 341 meeting to object. If sustained, the non-exempt portion may be sold. Consult a bankruptcy attorney if you are unsure about any exemption claim.

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Schedule A/B — Property — free

List all property you own before claiming exemptions. Schedule C exemptions reference assets you disclose on Schedule A/B.

Open Schedule A/B wizard

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Not legal advice. SynthCounsel is not a law firm. Exemption law varies significantly by state — always verify statute citations and consult a licensed bankruptcy attorney before filing.