Idaho Bankruptcy Exemptions
The chart below contains a summary of Idaho state bankruptcy exemptions and other relevant statutory laws. Click here for complete State of Idaho bankruptcy exemptions laws.
Note: bankruptcy exemptions are not available.
Personal exemptions allowed by Idaho Bankruptcy Laws
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 |
|---|---|---|
| Idaho Homestead | Real property or mobile home to $100,000 | 55-1003; 55-1113 |
| Wages | Minimum 75% of earned but unpaid weekly disposable earnings, or 30 times the Federal hourly minimum wage (whichever is greater). Bankruptcy judge may authorize more for low-income debtors. | 11-207 |
| Automobile | Up to $7,000 | 11-605(3) |
| Other property | Death or disability benefits | 11-604(1)(a); 41-1834 |
| Alimony and child support | 11-604(1)(b) | |
| Appliances, furnishings, books, clothing, pets, musical instruments, one firearm, family portraits, and sentimental heirlooms to $750 per item, $7,500 total | 11-605(1) | |
| Jewelry to $1,000 | 11-605(2) | |
| Burial plot | 11-603(1) | |
| Implements, books, and tools of trade up to $2,500 | 11-605(3) | |
| Wildcard | $800 in any tangible personal property | 11-605(11) |
Note: While this reference information is current as of August 2010, it may not reflect the most up-to-date exemption figures on official state of Idaho bankruptcy court statutes.
Back to all State Bankruptcy Exemptions
Go to Complete State of Idaho bankruptcy exemptions laws.
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