Vermont Bankruptcy Laws

Homestead:

Homestead consisting of dwelling house, outbuildings, and land on which it situates and including rent, tenancy, profits, issues etc the quantum of exemption may go up to $ 75,000.

Wages:

Disposable earnings up to the extent of 75% of the weekly earnings per week OR 30 times the federal minimum hourly wage, whichever is greater.

Motor Vehicles:

Automobile can be exempted up to the extent of $ 2,500.

Professional Books and Tools:

Professional books and implements exempted up to the extent of $ 5,000.

Jewelry:

Personal, family or household jewelry exempted up to the extent of $ 500.

Wedding Ring:

One wedding ring.

Proceeds of life insurance policies:

Up to the quantum of $ 500.

Harvesting crops:

Growing crops are exempted up to the extent of $ 5,000.

Household Furniture:

Furniture, implements, appliances, books, wearing apparel, animal, crops or musical instruments of debtor or his/her dependents are exempted up to the extent of $ 2,500.

Personally Chosen Property:

$ 400 plus up to $ 7,000 of any unused exemption.

Bank Balance:

Bank deposits are exempted up to $ 700.

Annuity Contracts:

Annuity contract benefits are exempted up to the extent of $ 350 per month.

Health Insurance:

Heath Insurance benefits up to the extent of $ 200.

Other Specific Exemption:

Total or Absolute Exemptions for: