Washington State Bankruptcy Exemptions
Laws That Keep Your Creditors' Hands Off Your Property
Updated April 2008 - 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. Washington 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
$125,000 for land, mobile homes, and improvements; $15,000 for other personal property used as homestead.
Wages
75 percent of weekly earnings or 30 times the federal minimum hourly wage,
whichever is greater.
Automobiles
$2,500 for any one motor vehicle ($5,000 for more than one vehicle
for a married couple).
Other Property
$1,000 in clothing; $1,500 in books; household goods, appliances,
furniture, and home and yard equipment, not to exceed $2,700 for an
individual or $5,400 for a couple; other personal property not to exceed $2,000
in value, of which not more than $200 in value may consist of cash, and $200
in bank accounts, savings and loan accounts, stocks, bonds, or other
securities.
» Read the complete Washington
bankruptcy exemptions here
» Click Here to read the Federal bankruptcy
exemptions.
» Back to Bankruptcy Laws In Your State