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.
| ASSET | EXEMPTION | LAW |
|---|---|---|
| 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) | |
| Clothing | 9-26-4(1) | |
| Jewelry to $2,000 | 9-26-4(14) | |
| Working tools to $1,500 | 9-26-4(2) | |
| Wildcard | $5,000 | 9-26-4(16) |
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.
Back to all State Bankruptcy Exemptions
Go to Complete State of Rhode Island bankruptcy exemptions laws.
Go to Federal Bankruptcy Exemptions
Rhode Island Bankruptcy Court links :
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