Nebraska Bankruptcy Laws

Standard federal filing fees. Nebraska has one bankruptcy district (District of Nebraska) with courthouses in Lincoln and Omaha.

Pre-filing credit counseling and pre-discharge debtor education required under federal law. Means test compares income to Nebraska median.

The homestead is exempt up to $120,000 in equity (increased from $60,000 by LB1195, effective 2024). Acreage limits: two or fewer lots within a city or village, 160 acres outside a city or village. If the home is sold, the first $120,000 in proceeds is exempt for up to 6 months after the sale.

Each natural person residing in Nebraska may exempt up to $5,000 in personal property (except wages) from forced sale on execution. This wildcard can be applied to any type of personal property, including vehicles, bank accounts, or other assets not otherwise exempt.

Exempt: immediate personal possessions and all necessary wearing apparel; household furnishings, goods, computers, appliances, books, and musical instruments up to $3,000; implements, tools, and professional books/supplies for trade or business up to $5,000.

There is no standalone vehicle exemption statute in Nebraska. Vehicle equity can be protected using the tools-of-trade exemption ($2,400 for a vehicle used for work or commuting) and/or the $5,000 wildcard exemption under § 25-1552.

Nebraska has opted out of the federal bankruptcy exemptions under 11 U.S.C. § 522(d). Debtors filing in Nebraska must use Nebraska's state exemptions exclusively.

ERISA-qualified plans (401(k), 403(b), pensions), IRAs, and similar tax-qualified retirement accounts are exempt from execution and attachment.