WAGE GARNISHMENT EXEMPTION 75% of employee's weekly net income or $402.50, whichever is more. Federal law applies if it provides a more generous exemption. MAXIMUM INTEREST RATE Legal: 10.5% Judgment: 10.5% or contractual STATUTE OF LIMITATIONS ON DEBT COLLECTION Sale of Goods: 4 years Written Contract: 6 years Domestic Judgment: 10 years Foreign Judgment: 10 years BAD CHECKS Can collect an amount equal to $100 or triple the amount of the bad check, whichever is greater, but never more than $1000 over the amount of the check BANKRUPTCY PROPERTY EXEMPTIONS Cannot use federal exemptions, but can use the federal non-bankruptcy exemptions Real Estate: Up to $54,000 if property used as a residence [9.38.010] Personal Property: Clothing, books, heirlooms, household goods, family portraits, and musical instruments up to $3,000 total [9.38.020(a)]; jewelry up to $1,000 [9.38.020(b)]; motor vehicle up to $3,000; market value cannot exceed $20,000 [9.38.020(e)]; implements, books or tools of trade up to $2,800 [9.38.020(c)]; building materials, unlimited amount [34.35.105]; burial plot, unlimited amount [9.38.015(a)(1)]; pets to $1,000 [9.38.020(d)]; proceeds for damaged or destroyed exempt property up to exemption amount [9.38.060]; wrongful death recoveries; personal injury to $1,000; health aids, unlimited amount [9.38015(a)(2)] Miscellaneous: Alimony up to wage exemption amount [9.38.030(e)(2)]; property of business partnership, unlimited amount [9.38.100(b)]; child support payments made by collection agency, unlimited amount [9.38.015(b)]; permits for limited entry into Alaska Fisheries, unlimited amount [9.38.015(a)(8)]; liquor licenses, unlimited amount [9.38.015(a)(7)] Insurance / Annuities: Disability benefits, unlimited amount [9.38.015(b) and 9.38.030(e)(1) and (5)]; fraternal society benefits, unlimited amount [21.84.240]; medical, surgical or hospital benefits, unlimited amount [9.38.015(a)(3)]; insurance proceeds for personal injury or wrongful death up to wage exemption amount [9.38.030(e)(3) and 9.38.050(a)]; life insurance or annuity contract up to $10,000 [9.38.017 and 9.38.025]; life insurance proceeds if beneficiary is insured's spouse or dependent up to wage exemption amount [9.38.030(e)(4)] Pensions / Retirement Plans: Elected public officers, unpaid benefits only [9.38.015(b)]; judicial employees, unpaid benefits only [9.38.015(b)]; other pensions up to wage exemption amount and only for payments being paid [9.38.030(e)(5)]; teachers, unpaid benefits only [9.38.015(b)]; public employees, unpaid benefits only [9.38.015(b) and 39.35-505]; retirement benefits deposited more than 120 days before filing bankruptcy, unlimited amount [9.38.017] Public Benefits / Entitlements: Unemployment compensation, unlimited amount [9.38.015(b) and 23.20.405]; workers' compensation, unlimited amount [23.25.160]; aid to families with dependent children and aid to aged, blind and disabled, unlimited amount [47.25.210 and 47.25.550]; Alaska longevity bonus, unlimited amount [9.38.015(a)(5)]; crime victims' compensation, unlimited amount [9.38.015(a)(4)]; federally exempt public benefits, unlimited amount [9.38.015(a)(6)]; general relief assistance, unlimited amount [47.25.210]; 45% of permanent fund dividends [43.23.065]; tuition credits under an advance college tuition payment contract, unlimited amount [9.38.015(a)(9)] Wages: Weekly net earnings to $350, unless sole wage earner in household, then up to $550; if paid monthly or semi-monthly, then up to $1,400 in cash or liquid assets paid in any month, unless sole wage earner in household, then up to $2,200 [9.38.030(a)(b) and 9.38.050(b)] Miscellaneous: Alimony up to wage exemption amount [9.38.030(e)(2)]; property of business partnership, unlimited amount [9.38.100(b)]; child support payments made by collection agency, unlimited amount [9.38.015(b)]; permits for limited entry into Alaska Fisheries, unlimited amount [9.38.015(a)(8)]; liquor licenses, unlimited amount [9.38.015(a)(7)] Bankruptcy kit illustrates how to use the above exemptions to complete bankruptcy forms. Debt Kit -- Settle unsecured debts for less than half of amount owed Credit Kit -- Improve your credit rating and reduce monthly payments by $200+ |
Debt > State Statutes > Alaska |
Debt > State Statutes > Alaska |
Wage Garnishments, Etc. -- Alaska |
WAGE GARNISHMENT EXEMPTION 75% of employee's weekly net income or $402.50, whichever is more. Federal law applies if it provides a more generous exemption. MAXIMUM INTEREST RATE Legal: 10.5% Judgment: 10.5% or contractual STATUTE OF LIMITATIONS ON DEBT COLLECTION Sale of Goods: 4 years Written Contract: 6 years Domestic Judgment: 10 years Foreign Judgment: 10 years BAD CHECKS Can collect an amount equal to $100 or triple the amount of the bad check, whichever is greater, but never more than $1000 over the amount of the check BANKRUPTCY PROPERTY EXEMPTIONS Cannot use federal exemptions, but can use the federal non-bankruptcy exemptions Real Estate: Up to $54,000 if property used as a residence [9.38.010] Personal Property: Clothing, books, heirlooms, household goods, family portraits, and musical instruments up to $3,000 total [9.38.020(a)]; jewelry up to $1,000 [9.38.020(b)]; motor vehicle up to $3,000; market value cannot exceed $20,000 [9.38.020(e)]; implements, books or tools of trade up to $2,800 [9.38.020(c)]; building materials, unlimited amount [34.35.105]; burial plot, unlimited amount [9.38.015(a)(1)]; pets to $1,000 [9.38.020(d)]; proceeds for damaged or destroyed exempt property up to exemption amount [9.38.060]; wrongful death recoveries; personal injury to $1,000; health aids, unlimited amount [9.38015(a)(2)] Miscellaneous: Alimony up to wage exemption amount [9.38.030(e)(2)]; property of business partnership, unlimited amount [9.38.100(b)]; child support payments made by collection agency, unlimited amount [9.38.015(b)]; permits for limited entry into Alaska Fisheries, unlimited amount [9.38.015(a)(8)]; liquor licenses, unlimited amount [9.38.015(a)(7)] Insurance / Annuities: Disability benefits, unlimited amount [9.38.015(b) and 9.38.030(e)(1) and (5)]; fraternal society benefits, unlimited amount [21.84.240]; medical, surgical or hospital benefits, unlimited amount [9.38.015(a)(3)]; insurance proceeds for personal injury or wrongful death up to wage exemption amount [9.38.030(e)(3) and 9.38.050(a)]; life insurance or annuity contract up to $10,000 [9.38.017 and 9.38.025]; life insurance proceeds if beneficiary is insured's spouse or dependent up to wage exemption amount [9.38.030(e)(4)] Pensions / Retirement Plans: Elected public officers, unpaid benefits only [9.38.015(b)]; judicial employees, unpaid benefits only [9.38.015(b)]; other pensions up to wage exemption amount and only for payments being paid [9.38.030(e)(5)]; teachers, unpaid benefits only [9.38.015(b)]; public employees, unpaid benefits only [9.38.015(b) and 39.35-505]; retirement benefits deposited more than 120 days before filing bankruptcy, unlimited amount [9.38.017] Public Benefits / Entitlements: Unemployment compensation, unlimited amount [9.38.015(b) and 23.20.405]; workers' compensation, unlimited amount [23.25.160]; aid to families with dependent children and aid to aged, blind and disabled, unlimited amount [47.25.210 and 47.25.550]; Alaska longevity bonus, unlimited amount [9.38.015(a)(5)]; crime victims' compensation, unlimited amount [9.38.015(a)(4)]; federally exempt public benefits, unlimited amount [9.38.015(a)(6)]; general relief assistance, unlimited amount [47.25.210]; 45% of permanent fund dividends [43.23.065]; tuition credits under an advance college tuition payment contract, unlimited amount [9.38.015(a)(9)] Wages: Weekly net earnings to $350, unless sole wage earner in household, then up to $550; if paid monthly or semi-monthly, then up to $1,400 in cash or liquid assets paid in any month, unless sole wage earner in household, then up to $2,200 [9.38.030(a)(b) and 9.38.050(b)] Miscellaneous: Alimony up to wage exemption amount [9.38.030(e)(2)]; property of business partnership, unlimited amount [9.38.100(b)]; child support payments made by collection agency, unlimited amount [9.38.015(b)]; permits for limited entry into Alaska Fisheries, unlimited amount [9.38.015(a)(8)]; liquor licenses, unlimited amount [9.38.015(a)(7)] Bankruptcy kit illustrates how to use the above exemptions to complete bankruptcy forms. Debt Kit -- Settle unsecured debts for less than half of amount owed Credit Kit -- Improve your credit rating and reduce monthly payments by $200+ |
