Rhode Island Bankruptcy Exemptions
The chart below contains a summary of Rhode Island state bankruptcy exemptions and other relevant statutory laws.
Click here for complete State of Rhode Island bankruptcy exemptions laws.
Note: Federal bankruptcy exemptions are available.
Click here for Federal Bankruptcy Exemptions
Personal exemptions allowed by Rhode Island 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.
|Rhode Island Homestead||$300,000 of land and buildings debtor occupies or intends to occupy as a principal residence||9-26-4.1|
|Wages||Earned but unpaid wages to $50||9-26-4(8)(iii)|
|Automobile||Up to $12,000||9-26-4(13)|
|Other property||Accident or sickness proceeds, avails, or benefits||27-18-24|
|Earnings of a minor child||9-26-4(9)|
|Beds, bedding, furniture, household goods, and supplies to $9,600 total||9-26-4(3)|
|Jewelry to $2,000||9-26-4(14)|
|Working tools to $1,500||9-26-4(2)|
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 Rhode Island bankruptcy court statutes.