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District of Columbia Personal Property Exemptions: The Property Creditors Can Not Touch!!!

In a U.S. federal bankruptcy case, your Washington DC bankruptcy lawyers can use District of Columbia law to protect the equity in your personal property. Equity is the difference between the market value of your property and the claims held against it. Listed below are some of the most common types of Washington DC bankruptcy exemptions that a U.S. federal bankruptcy lawyer can use to help keep creditor's hands off your cherished possessions. The Washington D.C. bankruptcy exemptions below are intended for educational purposes only. They are not intended as legal advice, as their practical application in a U.S. federal bankruptcy case is often very involved. Additionally, the Washington D.C. bankruptcy exemptions below are not an exhaustive list, therefore you should contact a Washington DC bankruptcy attorney to determine the other types of property that you own which may be exempt.

Motor Vehicle Washington D.C. Bankruptcy Exemptions

Your U.S. federal bankruptcy lawyers can use these Washington D.C. bankruptcy exemptions to protect $2,575 in value of any one motor vehicle listed in your U.S. federal bankruptcy.

Clothing, Textbooks, Bible, Family Pictures Washington D.C. Bankruptcy Exemptions

These Washington D.C. bankruptcy exemptions allow your U.S. federal bankruptcy lawyers to protect $8,625 in value in various personal items such as your clothing and personal heirlooms.

Life Insurance Proceeds Washington D.C. Bankruptcy Exemptions

Under these Washington D.C. bankruptcy exemptions a U.S. federal bankruptcy lawyer can protect 100% of your interest in life insurance, to the extent reasonably necessary for your support or the support of your dependent(s).

Qualified Retirement Plan Washington D.C. Bankruptcy Exemptions

Your U.S. federal bankruptcy lawyers can prevent creditors from touching the proceeds of your hard-earned retirement plan. A lawyer can help to exempt anything from stock bonuses, pensions, profit sharing plans and annuities as long as its determined that your savings are in a qualified retirement plan.

Tools of the Trade, Professional Books Washington D.C. Bankruptcy Exemptions

These are useful Washington D.C. exemptions that can be used to protect up to $1,625 of the tools you use in your profession. For example, shears, scissors and combs are the tools of a hairdresser, as are wrenches and hammers for a mechanic and carpenter.

Unemployment Compensation Benefits Washington D.C. Bankruptcy Exemptions

Your U.S. federal bankruptcy lawyers can protect all of your unemployment compensation from creditors' reach. However, past due child support may still be deducted from the income of people receiving public assistance.

Worker's Compensation Washington D.C. Bankruptcy Exemptions

These Washington D.C. bankruptcy exemptions can protect 100% of compensation you receive under District of Columbia workers' compensation laws. Your U.S. federal bankruptcy lawyers can protect both 100% of your wages and 100% of the award you receive to compensate you for any permanent disability. In District of Columbia, workers' compensation cases are 100% exempt. If you are injured while working then that is money you deserve and creditors will be prevented from reaching those funds.

Wildcard Washington D.C. Bankruptcy Exemptions (Any Personal Property of Debtor)

Last, but probably most important of the Washington D.C. Bankruptcy exemptions is the Wildcard Exemption. Using the Wildcard Exemption in your U.S. federal bankruptcy case, your lawyers can protect up to $850 of any type of personal property. These Washington D. C. bankruptcy exemptions can protect anything you own that has equity in excess of the above Washington D.C. bankruptcy exemptions.

Learn more about Wisconsin bankruptcy exemptions.