WAGE GARNISHMENT EXEMPTION: 25% of disposable earnings or 40 times the federal minimum hourly wage ($5.15), whichever is less. MAXIMUM INTEREST RATE: Legal: 8% Judgment: 10% STATUTE OF LIMITATIONS ON ENFORCEMENT: Open Account (credit card): 6 years Written Contract: 6 years (3 years if oral) Domestic Judgment: 20 or 25 years Small Claims Judgment: 10 or 15 years Foreign Judgment: 20 years BANKRUPTCY PROPERTY EXEMPTIONS (Connecticut General Statutes Annotated): You can claim either the state exemptions below or the federal exemptions. The State of Connecticut exempts the property below from seizure by creditors when filing bankruptcy Real Estate: Real property or mobile home up to $75,000 [52-352b(t)] Personal property: Utility and security deposits for residence, unlimited amount [52-352b(l)]; appliances, food, clothing, bedding and furniture (amounts needed) [52-352b(a)]; tools, books, instruments and farm animals, amounts needed, [52-352b(b); motor vehicle to $1,500 [52-352b(j)]; wedding and engagement rings; clothing, food and bedding; burial plot, unlimited amount [52-352b(c)]; arms, equipment, uniforms or musical instruments required for military use, unlimited amount [52-352b(i)]; health aids, unlimited amount [52-352b(f)]; wedding and engagement rings, unlimited amount [52-352b(k)]; proceeds for damaged exempt property up to exemption amount [52-352b(q)] Insurance / Annuities: Health or disability benefits, unlimited amount [52-352b(e)]; unmatured life insurance policy loan value up to $4,000 [52-352b(s)]; life insurance proceeds, unlimited amount [38a-453]; life insurance proceeds if policy prohibits proceeds from being used to pay creditors, unlimited amount, [38a-454]; fraternal society benefits, unlimited amount [38a-637]; disability benefits paid by association, unlimited amount [52-352b(p)] Pensions / Retirement Plans: Teachers, unlimited amount [10-183q]; state employees, unlimited amount [95-171 and 5-192w]; municipal employees, unlimited amount [7-446]; probate judges and employees, unlimited amount [45a-48]; retirement benefits, amounts being received [52-352b(m)] Public Benefits: Social Security, unlimited amount [52-352b(g); workers compensation, unlimited amount [52-352b(g)]; crime victims compensation, unlimited amount [52-352b(o) and 54-213]; aid to aged, blind, disabled and families with dependent children, unlimited amount [52-352b(d)]; veterans benefits, unlimited amount [52-352b(g)]; unemployment compensation, unlimited amount [31-272(c) and 52-352b(g)]; wages from earnings incentive program, unlimited amount [52-352b(d)] Wages: 75% of earned but unpaid wages [52-361a(f)(1)] Miscellaneous: Any property up to $1,000 [52-352b(r)]; Alimony up to amount of wage exemption [52-352b(n)]; child support, unlimited amount [52-352b(h)]; farm partnership animals, feed and property necessary to a farming operation where at least 50% of partners are members of same family [52-352d] Bankruptcy Kit illustrates how above exemptions can be used to complete bankruptcy forms Debt Kit -- Settle unsecured debt for less than half of amount owed Credit Kit -- Improve credit rating and reduce monthly bills by $200+ |
Debt > State Statutes > Connecticut |
Debt > State Statutes > Connecticut |
Debt and Bankruptcy Laws -- Connecticut |
WAGE GARNISHMENT EXEMPTION: 25% of disposable earnings or 40 times the federal minimum hourly wage ($5.15), whichever is less. MAXIMUM INTEREST RATE: Legal: 8% Judgment: 10% STATUTE OF LIMITATIONS ON ENFORCEMENT: Open Account (credit card): 6 years Written Contract: 6 years (3 years if oral) Domestic Judgment: 20 or 25 years Small Claims Judgment: 10 or 15 years Foreign Judgment: 20 years BANKRUPTCY PROPERTY EXEMPTIONS (Connecticut General Statutes Annotated): You can claim either the state exemptions below or the federal exemptions. The State of Connecticut exempts the property below from seizure by creditors when filing bankruptcy Real Estate: Real property or mobile home up to $75,000 [52-352b(t)] Personal property: Utility and security deposits for residence, unlimited amount [52-352b(l)]; appliances, food, clothing, bedding and furniture (amounts needed) [52-352b(a)]; tools, books, instruments and farm animals, amounts needed, [52-352b(b); motor vehicle to $1,500 [52-352b(j)]; wedding and engagement rings; clothing, food and bedding; burial plot, unlimited amount [52-352b(c)]; arms, equipment, uniforms or musical instruments required for military use, unlimited amount [52-352b(i)]; health aids, unlimited amount [52-352b(f)]; wedding and engagement rings, unlimited amount [52-352b(k)]; proceeds for damaged exempt property up to exemption amount [52-352b(q)] Insurance / Annuities: Health or disability benefits, unlimited amount [52-352b(e)]; unmatured life insurance policy loan value up to $4,000 [52-352b(s)]; life insurance proceeds, unlimited amount [38a-453]; life insurance proceeds if policy prohibits proceeds from being used to pay creditors, unlimited amount, [38a-454]; fraternal society benefits, unlimited amount [38a-637]; disability benefits paid by association, unlimited amount [52-352b(p)] Pensions / Retirement Plans: Teachers, unlimited amount [10-183q]; state employees, unlimited amount [95-171 and 5-192w]; municipal employees, unlimited amount [7-446]; probate judges and employees, unlimited amount [45a-48]; retirement benefits, amounts being received [52-352b(m)] Public Benefits: Social Security, unlimited amount [52-352b(g); workers compensation, unlimited amount [52-352b(g)]; crime victims compensation, unlimited amount [52-352b(o) and 54-213]; aid to aged, blind, disabled and families with dependent children, unlimited amount [52-352b(d)]; veterans benefits, unlimited amount [52-352b(g)]; unemployment compensation, unlimited amount [31-272(c) and 52-352b(g)]; wages from earnings incentive program, unlimited amount [52-352b(d)] Wages: 75% of earned but unpaid wages [52-361a(f)(1)] Miscellaneous: Any property up to $1,000 [52-352b(r)]; Alimony up to amount of wage exemption [52-352b(n)]; child support, unlimited amount [52-352b(h)]; farm partnership animals, feed and property necessary to a farming operation where at least 50% of partners are members of same family [52-352d] Bankruptcy Kit illustrates how above exemptions can be used to complete bankruptcy forms Debt Kit -- Settle unsecured debt for less than half of amount owed Credit Kit -- Improve credit rating and reduce monthly bills by $200+ |
