Indiana Bankruptcy Exemptions
Indiana Bankruptcy Exemptions
- Homestead Exemptions
- Insurance Exemptions
- Pension Exemptions
- Public Benefit Exemptions
- Wage Exemptions
- "Wild Card" exemptions
- Miscellaneous Exemptions
| Description: | Indiana Code |
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| Real or personal property used as residence up to an amount of $15,000 | 34-55-10-2(b)(1), 34-55-10-2(c) |
| Property held as tenancy may be exempt against debts incurred by only one spouse | 34-55-10-2(b)(5) |
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| Insurance | |
| Fraternal benefit society benefits | 27-11-6-3 |
| Group life insurance policy | 27-1-12-29 |
| Life insurance policy; proceeds, cash value or avails if beneficiary is insured's spouse or dependent | 27-1-12-14 |
| Life insurance proceeds if clause prohibits proceeds to used to pay beneficiary's creditors | 27-2-5-1 |
| Mutual life or accident proceeds | 27-8-3-23 |
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| Pensions: | |
| Certain Firefighter pensions are exempt | 36-8-7-22, 36-8-8-17 |
| Certain Police pensions | 36-8-8-17 |
| Public employee pensions | 5-10.3-8-9 |
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| Public Benefits | |
| Unemployment compensation | 22-4-33-3 |
| Workers' compensation | 22-3-2-17 |
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| Wages | |
| A minimum of 75% of earned but unpaid wages. However, a bankruptcy judge may allow a higher percentage for low-income debtors | 24-4.5-5-105 |
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| A "Wild Card" | |
| $8,000 of any real estate or tangible personal property | 34-55-10-2(b)(2) |
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| Miscellaneous | |
| The property of a business partnership applies here | 23-4-1-25 |
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Due to growth in my other practice areas I am no longer taking new Bankruptcy clients. However, The Law Office of Colby J. Leonard, will gladly handle your bankruptcy needs and may also be able to offer a non-bankruptcy solution such as a debt settlement. Mr. Leonard is also experienced with handling IRS debts. Mr. Leonard meets with clients here at my convenient Muncie office and he maintains other remote offices as well. Please contact his offices directly if you would like to consult further with Mr. Leonard. www.cleonardlaw.com
Please note that this is not an exhaustive list. If any of this is confusing or you'd feel better talking to someone, give the law offices of B. Joseph Davis a call toll free at 1-800-204-0599 or contact us online.