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Virginia Bankruptcy Exemptions
What Exemptions are allowed when filing bankruptcy in Virginia?
Below is a list of some of the available Virginia bankruptcy exemptions . This list only identifies a small fraction of the exemptions available in Virginia and there are many exemptions (such as retirement accounts, life insurance, and trade tools) that are not listed and may be beneficial to you. Talk to a qualified Virginia bankruptcy attorney in your area to have all the available exemptions explained to you. Only a Virginia bankruptcy attorney can properly list and explain all of the applicable exemptions offered in Virginia.
Virginia Bankruptcy Exemptions
Homestead |
$5,000 |
Homestead allowance for surviving spouse |
$15,000 |
Wearing apparel |
$1,000 |
Wedding and engagement rings |
$5,000 |
Household furniture |
$5,000 |
Exempt property of decent |
$15,000 |
Farmer´s equipment |
$4,000 |
Motor vehicle |
$2,000 |
Tools of trade |
$10,000 |
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