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Never more so than in our current
economic downturn have debtors needed the potential relief
of bankruptcy. Willoughby & Eckelberry guides you
through the process, working towards the most favorable
outcome possible for your particular situation. We
also have specialized knowledge of divorce and bankruptcy,
working through both issues in an orderly manner.
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Exemption Statutes
Description
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Individual
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Joint
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Automobile
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$5,000
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$10,000
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Automobile -- elderly/disabled
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$10,000
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$20,000
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Disability benefits, up to $3,000 monthly
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$3,000
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$6,000
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Earnings
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75%
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75%
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Homestead
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$60,000
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$60,000
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Homestead -- elderly/disabled
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$90,000
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$90,000
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Homestead proceeds (2 years)
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$60,000
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$60,000
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Household goods
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$3,000
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$3,000
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Insurance -- loss of homestead
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$60,000
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$60,000
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Insurance -- sickness & accident
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$2,500
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$5,000
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Library -- pictures, books
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$1,500
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$3,000
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Library - professional person
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$3,000
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$6,000
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Life insurance -- cash surrender value
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$25,000
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$50,000
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Life insurance policies -- avails
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$5,000
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$10,000
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Machinery, tools, livestock -- farmer
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$50,000
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$50,000
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Provisions & fuel
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$
600
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$1,200
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Tools of the trade
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$20,000
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$40,000
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Watches, jewelry, articles of adornment
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$2,000
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$4,000
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Wearing apparel
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$1,500
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$3,000
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75%
of unpaid wages
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75%
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75%
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