Federal Bankruptcy Exemptions

In bankruptcy, 'exemptions' are what you keep. Enter the value of your home equity, vehicle, household goods, and other property, and this estimates how much the federal exemption set (11 U.S.C. §522(d)) would protect and how much would be exposed — and tells you whether your state even lets you use the federal set (about 19 states plus DC do; the rest require state exemptions). Married couples filing jointly can generally double each amount.

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Worked example

Filing basis: Single — one set of exemptions · Home equity (d)(1): $31,575.00 protected (cap $31,575.00) · Vehicle (d)(2): $5,025.00 protected (cap $5,025.00) · Household goods (d)(3): $5,000.00 protected (cap $16,850.00) · Jewelry (d)(4): $1,000.00 protected (cap $2,125.00) · Tools of trade (d)(6): $2,000.00 protected (cap $3,175.00) · Cash & other via wildcard (d)(5): $1,675.00 protected (wildcard $1,675.00) · Total protected: $46,275.00 · Non-exempt (potentially at risk): $12,725.00 · Your state: New Jersey lets you CHOOSE the federal set — these amounts apply · Note: Federal §522(d), effective April 1, 2025. Household goods also have an $800 per-item cap. Retirement/Social Security/health aids are separately protected. NOT legal advice — verify with counsel and your state's exemption list.

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Inputs

Home equity $
40000
Vehicle equity $
8000
Household goods & furnishings $
5000
Jewelry $
1000
Tools of your trade $
2000
Cash & other property $
3000
Filing status
Single / Married filing jointly
Your state
Alabama / Alaska / Arizona / Arkansas / California / Colorado / Connecticut / Delaware / District of Columbia / Florida / Georgia / Hawaii / Idaho / Illinois / Indiana / Iowa / Kansas / Kentucky / Louisiana / Maine / Maryland / Massachusetts / Michigan / Minnesota / Mississippi / Missouri / Montana / Nebraska / Nevada / New Hampshire / New Jersey / New Mexico / New York / North Carolina / North Dakota / Ohio / Oklahoma / Oregon / Pennsylvania / Rhode Island / South Carolina / South Dakota / Tennessee / Texas / Utah / Vermont / Virginia / Washington / West Virginia / Wisconsin / Wyoming

Frequently asked

Are these the right numbers for me?

They're the federal amounts effective April 1, 2025. But roughly 31 states are 'opt-out' and force you to use STATE exemptions instead — often more or less generous. Check your state before relying on the federal set. This is organization, not legal advice.

How does the wildcard work?

The federal wildcard is a base amount plus up to $15,800 of any homestead exemption you don't use — so if you have little or no home equity, you get a much larger wildcard to protect cash and other property.

What about Social Security, retirement, and health aids?

Those are separately protected (retirement accounts up to about $1.7M for IRAs, plus Social Security and prescribed health aids with no dollar cap) and aren't part of this asset entry. Don't count them as 'at risk' here.