Pennsylvania Bankruptcy Exemptions
UPDATED: Oct 21, 2024
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Mary Martin
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Mary Martin has been a legal writer and editor for over 20 years, responsible for ensuring that content is straightforward, correct, and helpful for the consumer. In addition, she worked on writing monthly newsletter columns for media, lawyers, and consumers. Ms. Martin also has experience with internal staff and HR operations. Mary was employed for almost 30 years by the nationwide legal publi...
Published Legal Expert
UPDATED: Oct 21, 2024
It’s all about you. We want to help you make the right legal decisions.
We strive to help you make confident insurance and legal decisions. Finding trusted and reliable insurance quotes and legal advice should be easy. This doesn’t influence our content. Our opinions are our own.
Editorial Guidelines: We are a free online resource for anyone interested in learning more about legal topics and insurance. Our goal is to be an objective, third-party resource for everything legal and insurance related. We update our site regularly, and all content is reviewed by experts.
UPDATED: Oct 21, 2024
It’s all about you. We want to help you make the right legal decisions.
We strive to help you make confident insurance and legal decisions. Finding trusted and reliable insurance quotes and legal advice should be easy. This doesn’t influence our content. Our opinions are our own.
UPDATED: Oct 21, 2024
It’s all about you. We want to help you make the right legal decisions.
We strive to help you make confident insurance and legal decisions. Finding trusted and reliable insurance quotes and legal advice should be easy. This doesn’t influence our content. Our opinions are our own.
| Assets | Exemption | State Statutes |
|---|---|---|
| Homestead | None; however, property held as tenancy by the entirety may be exempt against debts owed by only one spouse. | In re Martin, 259 B.R. 119 (M.D. Pa. 2001) |
| Tenancy by Entirety | Property held as tenancy by the entirety may be exempt against debts owed by only one spouse. | In re Martin, 259 B.R. 119 (M.D. Pa. 2001) |
| Insurance | Accident or disability benefits. | 42 Pa. Cons. Stat. Ann. 8124 (c)(7) |
| Fraternal benefit society benefits. | 42 Pa. Cons. Stat. Ann. 8124 (c)(1),(8) | |
| Group life policy or proceeds. | 42 Pa. Cons. Stat. Ann. 8124 (c)(5) | |
| Insurance policy or annuity contract payments, where insured is the beneficiary, cash value or proceeds to $100 per month. | 42 Pa. Cons. Stat. Ann. 8124 (c)(3) | |
| Life insurance and annuity proceeds if clause prohibits proceeds from being used to pay beneficiary’s creditors. | 42 Pa. Cons. Stat. Ann. 8124 (c)(4) | |
| Life insurance annuity policy cash value or proceeds if beneficiary is insured’s dependent, child or spouse. | 42 Pa. Cons. Stat. Ann. 8124 (c)(6) | |
| No-fault automobile insurance proceeds. | 42 Pa. Cons. Stat. Ann. 8124 (c)(9) | |
| Misc. | Property of business partnership. | 15 Pa. Cons. Stat. Ann. 8342 |
| Pensions & Retirement Savings | City employees. | 53 Pa. Cons. Stat. Ann. 13445 53 Pa. Cons. Stat. Ann. 23572 53 Pa. Cons. Stat. Ann. 39383 42 Pa. Cons. Stat. Ann. 8124 (b)(1)(iv) |
| County employees. | 16 Pa. Cons. Stat. Ann. 4716 | |
| Municipal employees. | 53 Pa. Cons. Stat. Ann. 881.115 42 Pa. Cons. Stat. Ann. 8124 (b)(1)(vi) |
|
| Police officers. | 53 Pa. Cons. Stat. Ann. 764 53 Pa. Cons. Stat. Ann. 776 53 Pa. Cons. Stat. Ann. 23666 42 Pa. Cons. Stat. Ann. 8124 (b)(1)(iii) |
|
| Private retirement benefits (IRAs, etc.) to extent tax-deferred, if clause prohibits proceeds from being used to pay beneficiary’s creditors; exemption limited to deposits of $15,000 per year made at least 1 year before filing (limit does not apply to rollovers from other exempt funds or accounts). | 42 Pa. Cons. Stat. Ann. 8124 (b)(1)(vii), (viii),(ix) | |
| Public school employees. | 24 Pa. Cons. Stat. Ann. 8533 42 Pa. Cons. Stat. Ann. 8124 (b)(1)(i) |
|
| State employees. | 71 Pa. Cons. Stat. Ann. 5953 42 Pa. Cons. Stat. Ann. 8124 (b)(1)(ii) |
|
| Personal Property | Bibles and schoolbooks. | 42 Pa. Cons. Stat. Ann. 8124 (a)(2) |
| Clothing. | 42 Pa. Cons. Stat. Ann. 8124 (a)(1) | |
| Military uniforms and accoutrements. | 51 Pa. Cons. Stat. Ann.’ 4103 42 Pa. Cons. Stat. Ann. 8124 (a)(4) |
|
| Sewing machines. | 42 Pa. Cons. Stat. Ann. 8124 (a)(3) | |
| Public Benefits | Crime victims’ compensation. | 18 Pa. Cons. Stat. Ann. 11.708 |
| Korean conflict veterans’ benefits. | 51 Pa. Cons. Stat. Ann. 20098 | |
| Unemployment compensation. | 43 Pa. Cons. Stat. Ann. 863 42 Pa. Cons. Stat. Ann. 8124 (a)(10) |
|
| Veterans’ benefits. | 51 Pa. Cons. Stat. Ann. 20127 51 Pa. Cons. Stat. Ann. 20098 51 Pa. Cons. Stat. Ann. 20048 51 Pa. Cons. Stat. Ann. 20012 |
|
| Workers’ compensation. | 42 Pa. Cons. Stat. Ann. 8124 (c)(2) | |
| Tools of Your Trade | Seamstress’s sewing machine. | 42 Pa. Cons. Stat. Ann. 8124 (a)(3) |
| Wages | Earned but unpaid wages. | 42 Pa. Cons. Stat. Ann. 8127 |
| Prison inmates’ wages. | 61 Pa. Cons. Stat. Ann. 1054 | |
| Wages of victims of abuse. | 42 Pa. Cons. Stat. Ann. 8127 (f) | |
| Wildcard | $300 of any property, including cash, real property, securities, or proceeds from sale of exempt property. | 42 Pa. Cons. Stat. Ann. 8123 |
Resources:
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Mary Martin
Published Legal Expert
Mary Martin has been a legal writer and editor for over 20 years, responsible for ensuring that content is straightforward, correct, and helpful for the consumer. In addition, she worked on writing monthly newsletter columns for media, lawyers, and consumers. Ms. Martin also has experience with internal staff and HR operations. Mary was employed for almost 30 years by the nationwide legal publi...
Published Legal Expert
Editorial Guidelines: We are a free online resource for anyone interested in learning more about legal topics and insurance. Our goal is to be an objective, third-party resource for everything legal and insurance related. We update our site regularly, and all content is reviewed by experts.