Federal bankruptcy exemptions are available to residents in Arkansas, Connecticut, District of Columbia, Hawaii, Massachusetts, Michigan, Minnesota, New Jersey, New Mexico, Pennsylvania, Rhode Island, South Carolina, Texas, Vermont, Washington, and Wisconsin. Married couples can double the amount of the exemption amounts stated below. If you do not live in one of the states mentioned in the sentence above, you are required to use your state's property exemptions. If you use your state's exemptions, you may also use the federal non-bankruptcy exemptions. Federal Exemptions [United States Bankruptcy Code 11 United States Code Sec. 522(d)]: Real Property: Real property, co-op or mobile home up to $16,150 [522(d)(1)] Personal Property: Health aids, unlimited amount [522(d)(9)]; Burial plot (in lieu of real estate exemption) [522(d)(a)]; Animals, appliances, books, clothing, crops, furnishings, household goods, and musical instruments up to $425 per item and up to $8,625 total [522(d)(3)]; implements, books, and tools of trade up to $1,625 [522(d)(6)]; jewelry up to $1,075 [522(d)(4)]; motor vehicle up to $2,575 [522(d)(2)]; personal injury recoveries up to $16,050 (not pain and suffering or pecuniary loss) [522(d)(11)(D)]; wrongful death recoveries, amount needed for support [522(d)(11)(B)]; lost earnings payments, unlimited amount [522(d)(11)(E)] Insurance / Annuities: Life insurance proceeds, amount needed for support [522(d)(11)(C)]; disability, illness, or unemployment benefits, unlimited amount, [522(d)(10)(C)]; life insurance policy loan value, dividends, or interest up to $8,625 [522(d)(7)]; unmatured life insurance contract, unlimited amount [522(d)(7)] Pensions / Retirement Plans: Retirement benefits, amount needed for support [522(d)(10)(E)] Public Benefits / Entitlements: Social Security, unlimited amount [522(d)(10)(A)]; unemployment compensation, unlimited amount [522(d)(10)(A)]; public assistance, unlimited amount [522(d)(10)(A); crime victims compensation, unlimited amount [522(d)(11)(A)]; veterans benefits, unlimited amount [522(d)(10)(B)] Wages: None Miscellaneous: Alimony and child support, amount needed for support [522(10)(D)]; any property up to $850 [522(d)(5)]; any property up to $8,075 of unused portion of real estate exemption [522(d)(1)(5)] << Order the bankruptcy kit -- get a free credit kit and debt kit with your order Debt Kit -- Settle unsecured debts for less than half of amount owed Credit Kit -- Improve credit rating and reduce monthly bills by $200+ |
Federal Bankruptcy Exemptions |
Federal bankruptcy exemptions are available to residents in Arkansas, Connecticut, District of Columbia, Hawaii, Massachusetts, Michigan, Minnesota, New Jersey, New Mexico, Pennsylvania, Rhode Island, South Carolina, Texas, Vermont, Washington, and Wisconsin. Married couples can double the amount of the exemption amounts stated below. If you do not live in one of the states mentioned in the sentence above, you are required to use your state's property exemptions. If you use your state's exemptions, you may also use the federal non-bankruptcy exemptions. Federal Exemptions [United States Bankruptcy Code 11 United States Code Sec. 522(d)]: Real Property: Real property, co-op or mobile home up to $16,150 [522(d)(1)] Personal Property: Health aids, unlimited amount [522(d)(9)]; Burial plot (in lieu of real estate exemption) [522(d)(a)]; Animals, appliances, books, clothing, crops, furnishings, household goods, and musical instruments up to $425 per item and up to $8,625 total [522(d)(3)]; implements, books, and tools of trade up to $1,625 [522(d)(6)]; jewelry up to $1,075 [522(d)(4)]; motor vehicle up to $2,575 [522(d)(2)]; personal injury recoveries up to $16,050 (not pain and suffering or pecuniary loss) [522(d)(11)(D)]; wrongful death recoveries, amount needed for support [522(d)(11)(B)]; lost earnings payments, unlimited amount [522(d)(11)(E)] Insurance / Annuities: Life insurance proceeds, amount needed for support [522(d)(11)(C)]; disability, illness, or unemployment benefits, unlimited amount, [522(d)(10)(C)]; life insurance policy loan value, dividends, or interest up to $8,625 [522(d)(7)]; unmatured life insurance contract, unlimited amount [522(d)(7)] Pensions / Retirement Plans: Retirement benefits, amount needed for support [522(d)(10)(E)] Public Benefits / Entitlements: Social Security, unlimited amount [522(d)(10)(A)]; unemployment compensation, unlimited amount [522(d)(10)(A)]; public assistance, unlimited amount [522(d)(10)(A); crime victims compensation, unlimited amount [522(d)(11)(A)]; veterans benefits, unlimited amount [522(d)(10)(B)] Wages: None Miscellaneous: Alimony and child support, amount needed for support [522(10)(D)]; any property up to $850 [522(d)(5)]; any property up to $8,075 of unused portion of real estate exemption [522(d)(1)(5)] << Order the bankruptcy kit -- get a free credit kit and debt kit with your order Debt Kit -- Settle unsecured debts for less than half of amount owed Credit Kit -- Improve credit rating and reduce monthly bills by $200+ |
