Understanding Second Amendment Rights and Bankruptcy Law

In this podcast, besides showing off my “gun collection,” I’m going to get into the issue of the Second Amendment and bankruptcy.

First, let’s talk about me. I own a Smith & Wesson .38 with a laser.  I bought that gun to carry with me when I walk my dog. Before, I was carrying bear spray and a flashlight stun gun, but I felt it wasn’t enough. Unfortunately, dogs are always getting lost and end up in our neighborhood, and I was concerned that a dog may attack my dogs.

One of my dogs “was” Jackie, a Jack Russell Terrier who passed away last year at twenty-one! So you can see why I was concerned.

I also have a .45 caliber “Witness” and a Ruger P89. My friend, a certified gun nut, wanted to get rid of the .45 caliber, so I bought it from him. Hopefully, he didn’t commit any felonies with it. The Ruger P89 I bought when I turned 21.

Back then, my girlfriend’s family was into target shooting, so I wanted my own gun. I bought a leather shoulder holster to go with it because of my obsession with “Sonny Crockett” (Don Johnson) and Miami Vice. I did suggest to my wife to live on a sailboat with a pet alligator named Elvis like Crockett, but for some reason, she didn’t like the idea.

The Second Amendment

Now, let’s connect this to bankruptcy. The Second Amendment guarantees the right to bear arms, but states can impose restrictions like gun-free zones. Specifically, the Second Amendment states “A well regulated Militia, being necessary to the security of a free State, the right of the people to keep and bear Arms, shall not be infringed.”

Bankruptcy is federal law, and firearms are considered assets. Most states don’t have specific exemptions for guns, so they could be liquidated to pay creditors. Some states, like Texas, have exemptions, but it depends on the value and type of gun.

Now, what happens if you own firearms and file for bankruptcy? Well, you have to list your guns, and if their value exceeds your state’s exemptions, you could lose them.

Remember, bankruptcy law can conflict with your Second Amendment rights. Just because you own a gun doesn’t mean you can keep it in bankruptcy.

I hope you enjoyed this podcast. You can find other episodes via this link. You can also subscribe to my YouTube channel. Please be safe when it comes to firearm safety and training. Colleges and universities can purchase my bankruptcy law textbook directly from Routledge Publishing. For paralegals and students buying single copies, you can do so via Amazon books.

Additional blog content available below:

• Bankruptcy
• Your Wallet

The information on this site is for informational purposes only. Always consult with a bankruptcy attorney to discuss the specifics of your case.