What are the Virginia Bankruptcy Exemptions?

If you are considering filing for bankruptcy in Virginia, it is important to know what property and assets you are allowed to keep. This is because Virginia has its own set of bankruptcy exemptions that are different from the federal exemptions.

Some of the most common exemptions include: your home (up to $5,000), your car (up to $3,500), personal belongings (up to $2,000), and wages (up to $750 per week). Additionally, retirement accounts and disability benefits are usually exempt from bankruptcy.

To learn more about which assets you can keep in a Virginia bankruptcy, it is best to speak with a local bankruptcy attorney.

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