Second Amendment Rights and Bankruptcy: Can You Keep Your Firearms?

There is a common misconception that the Second Amendment overrides bankruptcy law, protecting gun owners. However, in the world of bankruptcy, the U.S. Constitution and State Exemption Statutes occupy very different corners of the law. They are two separate and distinct issues

While the Second Amendment protects your right to own a firearm, bankruptcy law determines whether you can keep that specific asset or firearm without paying for its value. Your gun(s) might be exempt, or the value may be minimal, and the bankruptcy trustee isn’t interested in them.

By Alexander Hernandez, J.D., Professor, and Author of Consumer Bankruptcy Law (Routledge).

Updated on January 23, 2026.

Listen: The Professor’s Audio Briefing.

Key Points:

• Constitutional Limits: The Second Amendment protects your right to possess firearms, but it does not grant them automatic “exempt” status in a federal bankruptcy proceeding.
• Asset vs. Right: In the eyes of a bankruptcy trustee, a firearm is often viewed as a personal asset with value, rather than a protected constitutional right.
• State Law Dictates Protection: Protection for your firearms depends entirely on your state’s specific exemption statutes. For example, while Texas offers specific protections, Florida requires you to use “wildcard” exemptions.
• Exemption Planning is Vital: Before filing, you must conduct an exemption analysis to determine if your firearms will be subject to turnover or if a “buy-back” from the bankruptcy trustee will be necessary.
• Which Bankruptcy Chapter to File: Whether you can keep your firearms often depends on the chapter you file; Chapter 7 may require surrendering non-exempt guns, while Chapter 13 may allow you to pay to keep them over time.

The Conflict: Constitutional Rights vs. Asset Liquidation

It is vital to understand this distinction: The Second Amendment prevents the government from infringing on your right to bear arms; it does not, however, grant those arms “exempt” status in a bankruptcy proceeding.

The 2nd Amendment: Your right to bear arms.

Bankruptcy Exemptions: Laws that determine which property is “safe” from creditors.

The Bottom Line: You aren’t being told you cannot own a gun; you are being told that your current firearms are assets with monetary value that may belong to the bankruptcy estate.

A Personal Perspective: From Miami Vice to Practical Protection: How Bankruptcy Exemptions Affect Gun Ownership

My own history with firearms has always been more about utility and sentiment than “collecting.”

My first gun was a Ruger P89, bought the day I turned twenty-one. Thirty-one years later, it’s still in my possession, tucked into the same leather shoulder holster I bought at a West Palm Beach gun show, which I admit, the purchase was inspired by watching a few too many episodes of Miami Vice. While I don’t live on a sailboat with an alligator named Elvis, that Ruger has stayed with me decades later.

Since then, I’ve added a Witness .45 (a deal too good to pass up) and a Smith & Wesson .38. The latter was a practical choice for neighborhood walks. After a tense encounter with a pack of wild dogs in North Florida, I realized that while bear spray is a start, it isn’t always enough.

I don’t consider myself a “collector” (I usually prefer the Jack Reacher approach to minimalism), but in bankruptcy, the “why” behind your ownership doesn’t matter as much as the “what.”

How Bankruptcy Exemptions Work

In many states, like Florida, a firearm is viewed simply as an asset, no different than a television or a piece of jewelry. Consider a friend of mine, a retired police officer who owns nearly 100 firearms. If we value his gun collection at a modest $100 each, he has a $10,000 collection.

The Florida Exemption Analysis:

Florida’s “Wildcard” exemption allows for $4,000 in personal property protection if you do not claim a homestead exemption, but only $1,000 if you do.

Asset Type	Estimated Value
Firearm Collection	$10,000
Other Personal Property	$5,000
Total Assets	$15,000
Less Florida Exemption (Homeowner)	($1,000)
Exposed Equity	$14,000

In a Chapter 7 bankruptcy, the trustee would likely seize the guns to sell them or require a “buy-back” within a very short window (usually 10–12 months). In a Chapter 13, my friend would have to pay back that $14,000 over 36 to 60 months just to keep his collection.

This analysis would apply to every state once you know the exemptions and the fair market value of your firearms. On the bankruptcy petition, personal assets are listed and exempted on Schedule C. To learn about the different schedules of the bankruptcy petition, follow this link.

Know Before You File: State Variations

Exemption laws vary widely by state. For example:

• Texas: Explicitly allows for the exemption of up to two firearms.
• Florida: Provides no specific protection for firearms as they fall under the general category of personal property.
• Other States: May have “household goods” categories that specifically include or exclude firearms.

The Professor’s Final Thoughts

Don’t let a misunderstanding of constitutional law lead to the loss of your property. The Second Amendment ensures you can go out and buy a new gun the day after your discharge, but it won’t stop a Bankruptcy Trustee from taking the ones you have today if they aren’t properly exempted.

Before you file, consult with an experienced bankruptcy attorney to perform a thorough exemption analysis.

Colleges and universities can purchase my bankruptcy law textbook directly from Routledge Publishing. Paralegals and students who are buying single copies can do so via Amazon Books. To access my YouTube channel, click this link.

You can learn more about filing for bankruptcy and the bankruptcy petition via this link. Information on the bankruptcy court system, contact information for trustees, and your state’s exemptions can be found here. The federal bankruptcy exemptions are listed here. The latest version of the 341 Meeting of the Creditors can be found here.

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Please note that the information on this site does not constitute legal advice and should be considered for informational purposes only.

Updated on December 15, 2024 and September 5, 2025.