Pennsylvania State Exemption List
In the state of Pennsylvania, you may use either the federal exemptions or the Pennsylvania exemption list. Exemptions were created to allow you to have enough assets or personal property after filing bankruptcy to start over. Some states have residency requirements to use their state exemption list. Not all of your assets or property may match an exemption.
Prior to filing personal bankruptcy a Pennsylvania Bankruptcy Attorney should be consulted to determine what assets or property you may have that will be excluded.
The table below will outline in general terms the Pennsylvania State exemptions.
| Exemptions | Exemption Amount | Statutes |
|---|---|---|
| Homestead | None, but tenancies by the entirety are exempt without limit as to debts of one spouse |
In re McCormick, 18 B.R. 911 (W D. Pa. 1982)]. |
| Insurance | Fraternal benefit society benefits; insurance or annuity payments up to $100 per month if insured is the beneficiary; annuity or life insurance proceeds if policy provides such proceeds are not assignable; group insurance policy or proceeds; annuity or life insurance proceeds if beneficiary is decedent's spouse, child, or other dependent relative; accident or disability insurance proceeds; no-fault automobile insurance proceeds. |
42-8124 |
Personal Property |
$300 of any property. |
42-8123 |
| Clothing, bibles, school books, sewing machines, uniform, and accoutrements. | 42-8124 | |
| Pensions | Tax exempt retirement accounts; Traditional and Roth IRAs up to $1,095,000 per person. | 11 U.S.C. ยง 522 |
| Prison inmates' wages. | 61-1054 | |
| County employees. |
16-4716 |
|
| Private retirement benefits if plan provides benefits are not assignable up to $15,000 per year deposited and if deposited at least 1 year before filing. |
42-8124 | |
| Public school employees | 24-8533 & 42-8124 | |
| Police officers | 53-764 & 53-776 & 53-23666 | |
| Municipal employees | 42-8124 & 53-881.115 | |
| City employees | 53-13445 & 53-23572 & 53-39383 | |
| State employees | 42-8124 & 71-5953 | |
| Miscellaneous | Business partnership property | 15-8342 |
| Public Benefits | Crime victims' compensation. |
18-11.708 |
| Workers' compensation and unemployment compensation. |
42-8124 | |
| Veterans' benefits. |
51-20012 | |
| Korean conflict veterans' benefits | 51-20098 |
There are certain debts such as deeds of trust, taxes. And mortgages which will not be discharged by filing bankruptcy. Failure to pay these debts will allow the lender the right to pursue legal debt collection efforts.
