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.

ASSETEXEMPTIONLAW
Idaho HomesteadReal property or mobile home to $100,00055-1003; 55-1113
WagesMinimum 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
AutomobileUp to $7,00011-605(3)
Other propertyDeath or disability benefits11-604(1)(a); 41-1834
Alimony and child support11-604(1)(b)
Appliances, furnishings, books, clothing, pets, musical instruments, one firearm, family portraits, and sentimental heirlooms to $750 per item, $7,500 total11-605(1)
Jewelry to $1,00011-605(2)
Burial plot11-603(1)
Implements, books, and tools of trade up to $2,50011-605(3)
Wildcard$800 in any tangible personal property11-605(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.

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Go to Complete State of Idaho bankruptcy exemptions laws.

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