Non-Exempt Asset Calculator 2026 — What Will I Lose in Bankruptcy?

A no-asset case is a Chapter 7 bankruptcy where all of the debtor's assets are covered by exemptions — there is nothing for the trustee to sell and distribute to creditors. The trustee files a "no distribution" report, and the case proceeds directly to discharge. No-asset cases are the most common type of consumer Chapter 7 filing. You know you have a no-asset case if every asset you own has equity below your state's exemption limit for that asset category.

The trustee can only take a car (or force its sale) if your equity — the car's market value minus the loan balance — exceeds your state's vehicle exemption. Most car owners have little or no equity because cars depreciate quickly and many have outstanding loans. If your vehicle is financed, your equity may be zero or negative, meaning it is fully protected regardless of the exemption limit. If you own your car free and clear and it is worth more than your state's vehicle exemption, the trustee may liquidate it — or you may be able to pay the trustee the non-exempt amount to keep it.

Bank account balances are generally only protected by the wildcard exemption (if your state has one) or specific cash exemptions. If your state has a $1,000 wildcard, only $1,000 in bank accounts is protected; any amount above that is theoretically non-exempt. In practice, trustees typically go after bank accounts only if the balance is large enough to be worth the administrative effort. Using available funds to pay necessary pre-petition expenses before filing (mortgage payments, utilities, food) is generally permissible, but paying back family or friends is a preferential transfer the trustee can recover.