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Federal Bankruptcy Exemptions

Homestead

$20,200*

Life insurance policy with loan value, in accrued dividends or interest

$9,850

$475 per item in any household goods up to a total of $9,850;

$9,850

Jewelry

$1,225

Motor vehicle

$3,225

Personal injury compensation payments

$18,450

Tools of trade - books and equipment

$1,850

Wild Card • $925 of any property

$925

 

* unused portion of homestead to $10,125 may be applied to any property

 

NOTE: These are the major bankruptcy exemptions, effective April 1, 2007. Check with your bankruptcy lawyer for a full exemptions list.


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