Kentucky State Bankruptcy Exemptions
Laws That Keep Your Creditors' Hands Off Your Property
Exemptions are laws passed by every state that allow you to protect certain types of your property from your creditors when you file bankruptcy-such as your home, car, pensions and IRAs, motor vehicles, clothing, tools, and other important property. Kentucky law provides a number of exemptions that protect your property, and your Kentucky TotalBankruptcy.com attorney will be able to advise you on which exemptions are best for you.
Homestead
$18,450 in the value of real property used as a residence.
Wages
No specific exemption.
Automobiles
$2,950 in the value of one automobile.
Other Property
$475 in value in any particular item ($9,850 in aggregate value) in household furnishings, household goods, wearing apparel, appliances, books, animals, crops, or musical instruments; $1,225 in value of jewelry; $1,850 in value of any implements, professional books, or tools, of the trade of the debtor; 100 percent of the value of professionally described health aids.
» Read the complete Kentucky bankruptcy exemptions here.
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Please understand that this information is provided for illustration purposes only and is not legal advice. If you would like more information about exemptions, please call our 24-hour toll free hotline at 1 (877) 349-1309 or use our free online evaluation form to get started with your bankruptcy case today!
Note: Laws may have changed since our last update. For the latest information on your state’s bankruptcy laws, speak to a local bankruptcy lawyer.