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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.

ASSET EXEMPTION LAW
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)
Health aids 12-2740(17)
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.

Back to all State Bankruptcy Exemptions
Go to Complete State of Vermont bankruptcy exemptions laws.
Go to Federal Bankruptcy Exemptions

Vermont Bankruptcy Court links :