Wisconsin 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. Wisconsin law provides a number of exemptions that protect your property, and your Wisconsin TotalBankruptcy.com attorney will be able to advise you on which exemptions are best for you.
Homestead
$40,000 homestead exemption.
Wages
75 percent of income or 30 times the greater of the state or federal minimum wage.
Automobiles
$1,200 for one motor vehicle plus any unused portion of the household goods exemption.
Other Property
Household goods and furnishings, clothing, keepsakes, jewelry and other articles of personal adornment, appliances, books, musical instruments, firearms, sporting goods, animals or other tangible personal property not to exceed $5,000 in aggregate value; $7,500 in equipment, inventory, farm products and professional books used in a trade or business.
» Read the complete Wisconsin 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.