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Chapter 7 Exemptions in Idaho
Protect Your Property with Avery Law
Most people’s fear when filing for bankruptcy is that they will lose all of their property with no way of getting it back. Fortunately, Idaho offers certain exemptions which can protect some or even all of your property while still reaping the benefits of filing for bankruptcy. Nonetheless, these exemptions can be confusing and legal assistance is of great value.
Our bankruptcy attorneys have been representing individuals throughout Idaho since 1985, including Boise Metro and Twin Falls. Having handled more than 8,000 cases, we are well-acquainted with state bankruptcy proceedings. Our expertise is at your disposal and can ensure the successfulness of your case.
What exemptions does the state offer?
As an opt out state, Idaho does not allow debtors to use any federal bankruptcy exemptions. Married couples are also given the chance to double their exemption amounts, unless otherwise prohibited by the law. This means that both spouses can claim the full exemption amount for any property that they have ownership interest in.
Some of the most common Idaho exemptions include:
- Homestead or residential property: up to $100,000
- Personal property: up to $7,500 of household appliances and up to $750 per item
- Motor vehicles: up to $7,000
- Wildcard: up to $800 of any property you own
Exemption amounts in Idaho are always changing, so it is important to stay up to date on the latest revisions before you file for Chapter 7. An awareness of what property you can keep when it’s all said and done is highly beneficial, particularly for your own peace of mind throughout the bankruptcy process.
Our Idaho bankruptcy attorney is here for you!
Our firm focuses exclusively on bankruptcy in order to be of greatest assistance to our clients. No matter how complex you feel your circumstances may be, we have what it takes to represent you.
Secure your peace of mind today! Call Avery Law to receive personal assistance throughout the entirety of your case.
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