Washington D.C. 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. Washington D.C. 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
100 percent of the debtor's aggregate interest in real property used as
the residence of the debtor is exempt.
Wages
75 percent of disposable earnings are exempt (includes periodic payments
under pension and retirement plans).
Automobiles
$2,575 exemption for motor vehicle.
Other Property
Exemption of $425 in value, in any particular item, or $8,625 in aggregate value,
in household furnishings, household goods, wearing apparel, appliances, books,
animals, crops, or musical instruments, that are held primarily for the
personal family or household use of the debtor or a dependent of the debtor;
and $1,625 exemption for any implements, professional books, or tools of
the trade of the debtor or the trade of a dependent of the debtor.
Note: Exemptions may have changed since our last update. For the latest updates on these property exemptions, speak to a local bankruptcy lawyer.
» Read the complete Washington D.C.
bankruptcy exemptions here
» Click Here to read the Federal bankruptcy
exemptions.
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