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Bankruptcy Exemptions
Federal and State Bankruptcy Exemptions
Below is a list of some of the available bankruptcy exemptions. Some states offer a choice of using the state exemptions or the federal exemptions. This list only identifies a small fraction of the exemptions available. There are many exemptions (such as retirement accounts, life insurance, and trade tools) that are not listed and may be beneficial to you. Also this list may be out dated. Talk to a qualified bankruptcy attorney in your area to have all the available bankruptcy exemptions explained to you. Only a local bankruptcy attorney can properly list and explain all of your state's applicable exemptions.
Federal |
(State Only) |
Homestead |
$18,450.00 |
Certain Life Insurance |
$9,850.00 |
Jewelry |
$1,225.00 |
Motor Vehicle |
$2,950.00 |
Tools of Trade |
$1,850.00 |
Wild Card |
$925.00 |
(State Only) |
|
Homestead |
$5000.00 |
Personal Property |
$300.00 |
Family pictures and keepsakes |
no limit |
(State Only) |
|
Homestead |
$67,500 |
Household goods and wearing apparel |
$3,750 |
Jewelry |
$1,250 |
Professional books and tools of trade |
$3,750 |
Pets |
$1,250 |
Motor vehicle |
$3,750 |
(State Only) |
|
Homestead |
$150,000 |
Engagement and wedding rings |
$1,000 |
Household goods |
$4,000 |
Motor Vehicle |
$5,000 |
Tools of Trade |
$2,500 |
(State or Federal) |
|
Homestead |
$2,500 |
Personal property |
$200.00 |
Life and disability insurance |
$1,000 |
IRA contributions |
$20,000 |
Motor vehicle |
$1,200 |
Tools of Trade |
$750.00 |
(State Only) |
|
(State Only) |
|
Homestead |
$45,000 |
Farm machinery, tools livestock |
$25,000 |
Household goods |
$3,000 |
Jewelry and watches |
$1,000 |
Cash surrender value of an insurance policy |
$25,500 |
Motor Vehicle |
$3,000 |
Personal books, family pictures |
$1,500 |
Professional library |
$3,000 |
Tools of Trade |
$10,000 |
Wearing apparel |
$1,500 |
(State or Federal) |
|
Homestead |
$75,000 |
Any interest of the debtor in any property |
$1,000 |
Motor Vehicle |
$1,500 |
(State Only) |
|
Homestead |
$50,000 |
Wildcard- Estate property |
$25,000 |
Vehicle necessary for employment |
$15,000 |
Tools of Trade |
$15,000 |
(State Only) |
|
Homestead |
no limit |
Motor vehicle |
$1,000 |
(State Only) |
|
Homestead |
$10,000 |
Jewelry |
$500.00 |
Household furnishings and goods |
$5,000 |
Motor Vehicle |
$3,500 |
Tools of Trade |
$1,500 |
(State or Federal) |
|
Homestead |
$20,000 |
Jewelry |
$1,000 |
Motor vehicle |
$2,575 |
(State Only) |
|
Homestead |
$50,000 |
Properties that are subject to limited value |
$5,000 |
Jewelry |
$1,000 |
One firearm |
$500 |
Wild Card |
$3,000 |
Tools of trade |
$1,500 |
State Only) |
|
Homestead |
$7,500 |
Proceeds of sale of homestead |
$7,500 |
Wearing apparel, bible, school books, & family pictures |
$2,000 |
Personal injury awards |
$7,500 |
Motor Vehicle |
$1,200 |
Tools of Trade |
$750.00 |
(State Only) |
|
Homestead |
$15,000 |
Intangible personal property |
$300.00 |
(State Only) |
|
Homestead |
no limit |
Wearing apparel and receptacles |
$7.000 |
Jewelry |
$2,000 |
Motor Vehicle |
$7,000 |
Farm implements, livestock and feed |
$10,000 |
Tools of Trade |
$10,000 |
Cash on hand, bank deposits or other Personal |
$1,000 |
(State Only) |
|
Homestead |
no limit |
Jewelry |
$1,000 |
Motor Vehicle |
$20,000 |
Tools of Trade |
$7,500 |
(State Only) |
|
Homestead |
$5,000 |
Farmer, tools equipment and Livestock |
$3,000 |
Household furniture, clothing and Furnishings and ornaments |
$2,500 |
Any property |
$1,000 |
(State Only) |
|
Homestead |
$25,000 |
Work |
$7,500 |
Clothing and certain prescribed household |
$5,000 |
(State Only) |
|
Homestead |
$35,000 |
Jewelry |
$750.00 |
Motor Vehicle |
$5,000 |
Tools of Trade |
$5,000 |
(State Only) |
|
Real or personal property |
$5,000 |
Tools of trade |
$5,000 |
Household goods and furnishings |
$1,000 |
Wildcard |
$6,000 |
(State or Federal) |
|
Homestead |
$500,000 |
Bank account |
$500.00 |
Household goods |
$3,000 |
Tools of Trade |
$500.00 |
Motor Vehicle |
$700.00 |
(State or Federal) |
|
Homestead |
$3,500 |
Household pets |
$500.00 |
Household goods |
$3,000 |
Motor Vehicle |
$2,775 |
One computer and accessories |
$500.00 |
Crops, farm animals and feed |
$2,000 |
Tools of trade |
$2,000 |
(State or Federal) |
|
Homestead ($500,000 if agricultural) |
$200,000 |
Household furniture |
$8,550 |
Life insurance, un-matured |
$7,600 |
Farm machines and implements |
$13,000 |
Tools of Trade |
$9,500 |
Motor vehicle (if modified for the Disabled, 38,000) |
$3,800 |
Employee benefits |
$57,000 |
Retirement plans |
$57,000 |
(State Only) |
|
Homestead |
$75,000 |
Tangible personal property |
$10,000 |
(State Only) |
|
Homestead |
$15,000 |
Household furnishings |
$3,000 |
Jewelry |
$500.00 |
Wedding ring |
$1,500 |
Any mobile home used as the principal residence |
$5,000 |
Motor vehicle |
$5,000 |
Tools of trade |
$3,000 |
(State Only) |
|
Homestead ($200,000 joint) |
$100,000 |
Personal property |
$14,500 |
Motor vehicle |
$2,500 |
Tools of trade |
$3,000 |
(State Only) |
|
Homestead |
$12,500 |
Wearing apparels, household furniture and furnishings |
$1,500 |
Books or tools of trade |
$2,400 |
Wild card |
$2,500 |
(State Only) |
|
Homestead |
$350,000 |
Private libraries |
$5,000 |
All family pictures keepsakes |
$12,000 |
Farm trucks, farm stock, farm tools farm equipment, supplies and seed |
$4,500 |
Money, not to exceed $500,000 in present value held in qualified retirement plans. |
$500,000 |
Motor Vehicle |
$15,000 |
Tools of trade |
$10,000 |
(State Only) |
|
Homestead |
$100,000 |
Household furniture |
$3,500 |
Bibles, school books and library |
$800.00 |
The debtors interest in any property |
$750.00 |
Motor vehicle |
$4,000 |
Jewelry owned by the debtor or his family |
$500.00 |
Tools of trade |
$5,000 |
(State Only) |
|
The New Jersey Consolidated Statutes |
nil |
Goods and chattels share of stock or interest in any corporation and personal property of every kind |
$1,000 |
Household goods and furniture |
$1,000 |
(State Only) |
|
Homestead |
$30,000 |
Personal items |
$500.00 |
Jewelry |
$2,500 |
Motor Vehicle |
$4,000 |
Tools of Trade |
$1,500 |
(State Only) |
|
Homestead |
$50,000 |
The family bible, family pictures and school books |
$5,000 |
Household pets |
$450.00 |
Wearing apparel, household furniture |
$5,000 |
Wedding ring, watch not exceeding thirty-five dollars in value |
$5,000 |
Motor vehicle |
$2,400 |
Tools of trade |
$5,000 |
(State Only) |
|
Homestead |
$18,500 |
Motor vehicle |
$3,500 |
Tools of trade |
$2,000 |
Household furnishings |
$5,000 |
(State Only) |
|
Homestead |
$80,000 |
Wearing apparel |
no limit |
Provisions for the debtor and his family necessary for one year's supply, crops and grain not to exceed 160 acres of land |
no limit |
Any goods chattels, merchandise, money and other personal property |
$2,500 |
Motor vehicle |
$1,200 |
(State Only) |
|
Homestead |
$5,000 |
Four hundred dollars ($400.00) in cash |
$400.00 |
Jewelry |
$1,500 |
Wild card, personal property |
$400.00 |
Motor Vehicle |
$1,000 |
Tools of Trade |
$700.00 |
Oklahoma |
(State Only) |
Real property or manufactured home |
$10,000 |
Wedding and anniversary rings |
$3,000 |
Implements of husbandry necessary to farm the homestead |
$10,000 |
Wearing apparel |
$4,000 |
Motor Vehicle |
$7,500 |
Tools of Trade |
$5,000 |
(State Only) |
|
Homestead |
$25,000 |
Mobile home |
$20,000 |
Books, pictures and musical instruments |
$600.00 |
Wearing apparel, jewelry and other personal items |
$1,800 |
Domestic animals and poultry kept for family use |
$1000 |
Household goods, furniture, radios, a television set and utensils |
$3,000 |
Motor vehicle |
$1,700 |
Rifle or shotgun and one pistol |
$1,000 |
Tools of trade |
$3,000 |
(State or Federal) |
|
The Pennsylvania Consolidated Statues contain no provision for A homestead exemption |
nil |
(State or Federal) |
|
Homestead |
$200,000 |
Working tools of a debtor |
$1,200 |
Household furniture and family stores |
$8,600 |
Jewelry |
$1,000 |
Motor vehicle |
$10,000 |
(State Only) |
|
Homestead |
$5,000 |
Cash and liquid assets in lieu of homestead |
$1,000 |
Household furnishings and goods |
$2,500 |
Jewelry |
$500.00 |
Health aids |
no limit |
Motor vehicle |
$1,200 |
Tools of Trade |
$750.00 |
(State Only) |
|
Homestead |
$30,000 |
Goods, chattels, merchandise, money or other personal property |
$4,000 |
Additional personal property |
$4,000 |
Miscellaneous books and musical instruments |
$200.00 |
Farm equipment |
$1,250 |
(State Only) |
|
Homestead |
$5,000 |
Money and funds on deposit |
$4,000 |
Tools of trade |
$1,900 |
(State Only) |
|
Homestead |
no limit |
Personal property of debtor |
$30,000 |
(State or Federal) |
|
Homestead |
$20,000 |
Health aids |
no limit |
Motor vehicle |
$2,500 |
(State or Federal) |
|
Homestead |
$75,000 |
Wedding ring, jewelry of debtor |
$500 |
Household furnishings, goods appliances |
$5,000 |
Growing crops |
$5,000 |
Professionally prescribed health aids for the debtor or his dependent |
no limit |
Motor vehicle |
$2,500 |
Tools of trade |
$5,000 |
(State Only) |
|
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 |
(State or Federal) |
|
The District of Columbia has no homestead law |
nil |
Beds, bedding household furniture and furnishings |
$425.00 |
Mechanics tools |
$200.00 |
Family pictures and library |
$400.00 |
Library, office furniture, and implements of a professional man or artist |
$300.00 |
Auto or motor-controlled vehicle |
$500.00 |
Motor vehicle |
$2,575 |
All family pictures; and all family library materials |
$300.00 |
Aggregate interest in any property |
$850.00 |
Tools of trade |
$1,625 |
Household furnishings, appliances, wearing apparel |
$8,625 |
(State or Federal) |
|
Homestead |
$40,000 |
Wearing apparel |
$1,000 |
Furs, family, jewelry, and personal ornaments |
$1,500 |
Family pictures and keepsakes |
$1,500 |
Household goods, appliances, furniture, and home yard equipment |
$2,700 |
Other personal property |
$2,000 |
Motor vehicle |
$2,500 |
Cash or bank accounts |
$100.00 |
Two motor vehicles, farmer's equipment and tools |
$5,000 |
Professional library, office furniture office equipment and supplies |
$5,000 |
Tools of trade |
$5,000 |
(State or Federal) |
|
The homestead of debtor, his spouse, parent or other head of a household |
$25,000 |
Personal property |
$1,000 |
Household furnishings, goods wearing apparel, appliances, books, animals, crops or musical instruments |
$800.00 |
Jewelry held primarily for personal, family or household use |
$1,000 |
Any property not to exceed $800 in value |
$800.00 |
Professionally prescribed health aids for the debtor |
no limit |
Motor vehicle |
$2,400 |
Tools of trade |
$1,500 |
(State or Federal) |
|
Homestead |
$40,000 |
Consumer goods |
$5,000 |
Household furnishings |
$5,000 |
Motor vehicle not to exceed $1,200 |
$1,200 |
Deposit accounts |
$1,000 |
Tools of trade |
$7,500 |
(State or Federal) |
|
Homestead |
$10,000 |
Wearing apparel |
$1,000 |
Family bible, pictures and school books |
$2,000 |
Library, instruments and implements of any professional person |
$2,000 |
Motor vehicle |
$2,400 |
Tools of trade |
$2,000 |