The basic purpose of a bankruptcy exemption is to protect certain property from creditors. As such, exemptions play a very important role in the average bankruptcy proceeding. Some people wonder whether it is more beneficial to claim exemptions under Chapter 7 or Chapter 13. The truth of the matter is that the exemption amount remains the same for both chapters. The only difference is in how the trustee treats the property. Take a further look at the exemptions offered by state law, and how they can help you stay afloat.