Vermont 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. Vermont law provides a number of exemptions that protect your property, and your Vermont TotalBankruptcy.com attorney will be able to advise you on which exemptions are best for you.
Homestead
$75,000 homestead exemption.
Wages
75 percent of weekly earnings or 30 times the federal minimum hourly wage, whichever is greater.
Automobiles
$2,500 in one motor vehicle.
Other Property
$5,000 in professional books and tools of the trade; one wedding ring; $500 in other jewelry; $2,500 in furniture, goods or appliances, books, wearing apparel, animals, crops or musical instruments; growing crops up to $5,000; any other property, not to exceed $400 in value, plus up to $7,000 of any unused exemptions; one cooking stove, appliances needed for heating, one refrigerator, one freezer, one water heater, and sewing machines; and $700 in bank deposits.
» Read the complete Vermont 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.