West Virginia Bankruptcy Exemptions

The chart below contains a summary of West Virginia state bankruptcy exemptions and other relevant statutory laws.
Click here for complete State of West Virginia bankruptcy exemptions laws.

Note: Federal bankruptcy exemptions are not available.

Personal exemptions allowed by West Virginia Bankruptcy Law

Note: Under the 2005 bankruptcy law, almost all types of tax-exempt retirement accounts are exempt in bankruptcy whether state or Federal exemptions are used. Exemptions for 401(k)s, 403(b)s, profit-sharing and money purchase plans, and defined benefit plans include the entire account amounts. However, with traditional and Roth IRAs, the exemption is limited to a total value of $1,171,650 per person for all accounts held by the debtor (not per account). The total value amount is adjusted every three years for inflation. The relevant statutes: 11 U.S.C. §522(d)(12) for Federal bankruptcy exemptions; 11 U.S.C. §522(b)(3)(C) for state bankruptcy exemptions.

ASSET EXEMPTION LAW
West Virginia Homestead Real or personal property used as residence to $25,000 38-10-4(a)
Wages Minimum 30 times the Federal minimum hourly wage per week. Bankruptcy judge may authorize more for low-income debtors. 38-5A-3
Automobile Up to $2,400 38-10-4(b)
Other property Health or disability benefits 38-10-4(j)(3)
Alimony and child support needed for support 38-10-4(j)(4)
Animals, crops, clothing, appliances, books, household goods, furnishings, musical instruments to $400 per item, $8,000 total 38-10-4(c)
Health aids 38-10-4(i)
Burial plot to $25,000, in lieu of homestead 38-10-4(a)
Implements, books, and tools of trade to $1,500 38-10-4(f)
Wildcard $800 (plus unused portion of homestead or burial exemption) of any property 38-10-4(e)

Note: While this reference information is current as of October 2010, it may not reflect the most up-to-date exemption figures on official state of West Virginia bankruptcy court statutes.

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