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Bankruptcy Laws In Your State

Exemptions are state bankruptcy laws specifying the types of personal property and assets that creditors cannot take to satisfy a debt and the bankruptcy trustee is prevented from selling for the benefit of the debtor’s unsecured creditors. Exempt property includes real property, personal property, wages, insurance, pensions, IRA, 401K, public benefits, and tools of trade.

Click on your state for a handy summary of bankruptcy state exemptions, complete bankruptcy exemption laws and links to official USBC district sites and PDF bankruptcy forms.

Federal Bankruptcy Exemptions

These USBC districts allow a choice between using federal bankruptcy exemptions laws and state bankruptcy exemptions laws:

  • Washington, D.C.
  • Arkansas
  • Connecticut
  • Hawaii
  • Massachusetts
  • Michigan
  • Minnesota
  • New Jersey
  • New Mexico
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • Texas
  • Vermont
  • Washington
  • Wisconsin

Click here for Federal Bankruptcy Exemptions

Note: While this reference information is current as of August 2010, it may not reflect the most up-to-date state bankruptcy exemptions laws and figures on official state statutes.