Bankruptcy in Pennsylvania

None. Pennsylvania law has no homestead exemption. You can use the $300 general exemption toward any property, including your home.

If you choose the state exemptions, a home owned with your spouse as tenants by the entirety is protected from creditors of only one spouse (11 U.S.C. 522(b)(3)(B); In re O'Lexa, 3d Cir. 2007, which held this applies even to a debt for family necessaries). Debts owed jointly by both spouses are not blocked this way.

Law: 42 Pa.C.S. 8123 (general $300 exemption); 11 U.S.C. 522(b)(3)(B); In re O'Lexa (3d Cir. 2007)

$31,575

Law: 11 U.S.C. 522(d)(1)

$5,025

Law: 11 U.S.C. 522(d)(2)

Wearing apparel; Bibles and school books; sewing machines used by private families or belonging to seamstresses (not kept for sale or hire); military uniforms and equipment. No dollar cap on these items. Other household goods have no separate exemption.

Law: 42 Pa.C.S. 8124(a)

Household goods: $800 per item, $16,850 total

Jewelry for personal or family use: $2,125

Law: 11 U.S.C. 522(d)(3); 11 U.S.C. 522(d)(4)

$300 in any property (cash, bank accounts, real estate or other property). It does not apply against support judgments, or against a mortgage foreclosure on the mortgaged property.

Law: 42 Pa.C.S. 8123

$1,675 plus up to $15,800 of any unused part of the (d)(1) homestead amount

Law: 11 U.S.C. 522(d)(5)

$3,175

Law: 11 U.S.C. 522(d)(6)

Wages, salaries and commissions are exempt while still held by your employer, except for support, divorce-related orders, certain landlord judgments (capped at 10% of net wages), PHEAA student loans, criminal restitution/fines and some other listed debts.

Law: 42 Pa.C.S. 8127

IRAs, Roth IRAs, 401(k), 403(b) and similar plans, plus public employee pensions, are exempt. Not protected: amounts you put in within one year before filing bankruptcy, and contributions over $15,000 in any one-year period (direct rollovers excepted).

Law: 42 Pa.C.S. 8124(b)

No dollar limit (IRAs are capped under 522(n))

Money in traditional and Roth IRAs is protected up to $1,711,975 in total.

Law: 11 U.S.C. 522(d)(12); 11 U.S.C. 522(n); 90 FR 8941

Unemployment compensation and workers' compensation payments are exempt. Accident or disability insurance benefits are also exempt.

Law: 42 Pa.C.S. 8124(c)(2), (c)(7), (c)(10)

Your right to receive Social Security, unemployment, public assistance, veterans' and disability benefits; alimony and support you reasonably need; and certain pension or annuity payments you reasonably need: No dollar limit (some only as much as you reasonably need)

Your right to certain payments: crime victim awards, wrongful-death and life-insurance payments for someone you depended on, personal bodily injury payments (not pain and suffering or actual money losses), and payments for lost future earnings: Crime-victim awards: no limit. Personal injury payment: up to $31,575. Others: as much as you reasonably need

Law: 11 U.S.C. 522(d)(10); 11 U.S.C. 522(d)(11)

• Life insurance or annuity payable to your spouse, children or dependent relative: the net amount payable is exempt (42 Pa.C.S. 8124(c)(6)).
• Group insurance policies and their proceeds are exempt (42 Pa.C.S. 8124(c)(5)).
• Insurance or annuity where you are the beneficiary: exempt up to an income of $100 per month (42 Pa.C.S. 8124(c)(3)).

An unmatured life insurance policy you own (not credit life insurance): No dollar limit

Cash value of life insurance: $16,850

Health aids prescribed by a professional for you or a dependent: No dollar limit

Law: 11 U.S.C. 522(d)(7); 11 U.S.C. 522(d)(8); 11 U.S.C. 522(d)(9)