When you file for bankruptcy, you can keep all your possessions that are considered exempt. That said, only certain property is protected from the claims of creditors because it is exempt under either the federal law or the laws of the state of Delaware. After retaining a bankruptcy lawyer at the Wolfe & Associates, we will evaluate your case and review your assets. We will then discuss which exemptions are available to you and which would be best for you to claim. A debtor can only select exemptions under state law or federal law exclusively. One cannot pick and choose between state and federal exemptions, and in Delaware this will depend on how long you have lived in this state.