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Alabama Bankruptcy ExemptionsHomestead 6-10-2 - Real property or mobile home, up to $5,000. Property can't exceed 160 acres. 6-10-20 - Before an attempt to sell the home, a homestead declaration must be recorded. Personal Property 6-10-5 - A burial place and a church pew or seat. 6-10-6 - Clothing, books, family portraits and pictures, and $3,000 of any other personal property (except wages). Wages 5-19-15; 6-10-7 - 75% of earned but unpaid wages. Judge may approve more for low-income debtors. 75% of weekly net income or 30 times the federal minimum hourly wage in regards to consumer leases, consumer credit sales, or consumer loans. Pensions 11 U.S.C. §522(b)(3)(C) - Tax exempt retirement accounts. 11 U.S.C. §522(b)(3)(C)(n) - Traditional and Roth IRAs up to $1,095,000 per person. 12-18-10 - Judges (for payments being received only). 16-25-23 - Teachers. 19-3B-501 to 503 - With certain exceptions, spendthrift trusts. 36-21-77 - Law enforcement officers. 36-27-28 - State employees. Public Benefits 15-23-15 - Crime victims' compensation. 25-4-140 - Unemployment compensation. 25-5-86 - Workers' compensation: 31-7-2 - Southeast Asian War POW's benefits. 38-4-8 - Aid to blind, aged, and disabled; other public assistance. Tools of Trade 31-2-78 - Arms, uniforms, and equipment required to be kept by state military personnel. Insurance 6-10-8 & 27-14-29 - Life insurance proceeds. 27-14-31 - Disability proceeds up to an average of $250 per month. 27-14-32 - Annuities up to $250 per month. 27-15-26 - Life insurance, if policy prohibits use to pay creditors. 27-30-25 - Mutual aid association benefits. 27-34-27 - Fraternal benefit society benefits. Other - Add any applicable Federal Nonbankruptcy Exemptions HOME BANKRUPTCY STEPS FREE CONSULTATION EMERGENCY FILING
This website contains information related to law and is NOT LEGAL advice. It contents is for information only. If you need legal advice, please consult an attorney or act as your own. All documents typed are prepared by Rica Gilmore.
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