Vermont Bankruptcy Exemptions
The chart below contains a summary of Vermont state bankruptcy exemptions and other relevant statutory laws.
Click here for complete State of Vermont bankruptcy exemptions laws.
Note: Federal bankruptcy exemptions are available.
Click here for Federal Bankruptcy Exemptions
Personal exemptions allowed by Vermont 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.
|Vermont Homestead||Real property or mobile home to $125,000||27-101|
|Wages||Minimum 75% of weekly disposable earnings or 30 times the Federal minimum hourly wage (whichever is greater). Bankruptcy judge may authorize more for low-income debtors.||12-3170|
|Automobile||Up to $2,500||12-2740(1)|
|Other property||Group life or health benefits||8-3708|
|Alimony and child support||12-2740(19)(D)|
|Appliances, furnishings, goods, clothing, books, crops, animals, musical instruments to $2,500 total||12-2740(5)|
|Stove, heating unit, refrigerator, freezer, water heater, and sewing machine||12-2740(8)|
|Books and tools of trade to $5,000||12-2740(2)|
|Wildcard||Unused exemptions for automobile, tools of trade, jewelry, household furniture, appliances, clothing, and crops to $7,000; $400 of any property||12-2740(7)|
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 Vermont bankruptcy court statutes.
Vermont Bankruptcy Court links :
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