Vermont State Bankruptcy Exemptions
Laws That Keep Your Creditors' Hands Off Your Property
Exemptions are laws passed by every state that allow you to protect certain
types of your property from your creditors when you file bankruptcy-such as
your home, car, pensions and IRAs, motor vehicles, clothing, tools, and other
important property. Vermont law provides a number of exemptions that protect
your property, and your attorney will be able to advise you on which exemptions
are best for you.
Homestead
$75,000 homestead exemption.
Wages
75 percent of weekly earnings or 30 times the federal minimum hourly
wage, whichever is greater.
Automobiles
$2,500 in one motor vehicle.
Other Property
$5,000 in professional books and tools of the trade; one wedding ring; $500
in other jewelry; $2,500 in furniture, goods or appliances, books,
wearing apparel, animals, crops or musical instruments; growing crops up to $5,000;
any other property, not to exceed $400 in value, plus up to $7,000
of any unused exemptions; one cooking stove, appliances needed for heating, one
refrigerator, one freezer, one water heater, and sewing machines; and $700
in bank deposits.
Note: Exemptions may have changed since our last update.
» Read the complete Vermont bankruptcy exemptions
here
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