Guns and bankruptcy
A bill to allow a person in bankruptcy to keep up to $3K in guns. I know a few states have a similar law. I guess bankruptcy shouldn’t leave you defenseless.
6 Responses to “Guns and bankruptcy”
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March 23rd, 2011 at 8:59 am
Yeah, but 3k? Thats a bit much… the case could be made for one gun up to a value of perhaps $500 or $750 or something like that.
March 23rd, 2011 at 10:01 am
If you can keep a car, $3,000 of firearms isn’t all that much.
That’s an AR with a decent optic, some mags, and a modern generation handgun with some mags.
Maybe a shotgun if you have a cheap enough base AR.
March 23rd, 2011 at 5:55 pm
3K is one hi-qual gun.
What about ammo?
March 23rd, 2011 at 6:53 pm
Nothing new. In Florida, you can either keep $1K of stuff plus your homestead, or if you forgo the homestead exemption, and keep $4K of stuff.
March 23rd, 2011 at 9:15 pm
The standard for a lot of states is one pistol, one shotgun, and one rifle.
March 27th, 2011 at 12:36 pm
In Missouri there is an exemption under the bankruptcy rules to allow you to keep firearms valued less than 2k, unless they are heirloom or inherited. Those are exempt regardless of cost for sentimental reasons. Vehicles not used as primary transport are only exempt if they are valued less than 1500. Then there is the homestead exemption also.