Indiana State Exemption List
Only State Exemptions Allowed
In the state of Indiana you can only use the State of Indiana Bankruptcy Exemption List. You can not use the federal bankruptcy exemption list. There may be certain federal supplemental exemptions you can use. All exemptions should be discussed with your Indiana Bankruptcy Attorney.
Indiana has created bankruptcy exemptions to allow you to maintain enough public benefits, wages, personal property and insurance to start over after filing bankruptcy in Indiana. There may be certain residency requirements to use the State of Indiana Bankruptcy Exemption List.
The following table will outline the Indiana Bankruptcy Exemptions. Some of your property or assets may not have a matching exemption.
|
Exemptions
|
Exemption Amount
|
Statutes
|
Homestead |
Real or personal property used as residence to $7,500 (homestead plus personal property, except health aids can not exceed $10,000) |
34-55-10-2(b)(1)
34-55-10-2(c) |
| |
Property held as tenancy by the entirety may be exempt against debts incurred by only one spouse |
34-55-10-2(b)(5) |
| Public Benefits |
Crime victims’ compensation unless seeking to discharge debt for treatment of injury incurred during the crime |
12-18-6-36 |
| |
Unemployment compensation |
22-4-33-3 |
| |
Workers’ compensation |
22-3-2-17 |
| Tools of Trade |
National guard uniforms, arms and equipment |
10-2-6-3 |
| Wages |
Minimum 75% of earned but unpaid wages; bankruptcy judge may authorize more for low-income debtors |
24-4.5-5-105 |
| Wild Card |
$4,000 of any real estate or tangible personal property |
34-55-10-2(b)(2) |
| Pensions |
Firefighters |
36-8-7-22, 36-8-8-17 |
| |
Police officers (only benefits building up) |
10-1-2-9, 36-8-8-17 |
| |
Public employees |
5-10.3-8-9 |
| |
Public or private retirement benefits |
34-2-28-1 (a)(6) |
| |
Sheriffs (only benefits building up) |
36-8-10-19 |
| |
State teachers |
21-6.1-5-17 |
Personal Property
|
Health aids |
34-2-28-1 (a)(4) |
| |
$100 on any intangible personal property, except money owed to you |
34-2-28-1 (a)(3) |
| Miscellaneous |
Property of business partnership |
23-4-1-25 |