Rhode Island Bankruptcy Exemptions

Unlike some states, Rhode Island does have both state and federal bankruptcy exemptions available to those filing for bankruptcy protection.

There is property that you can exempt or protect from creditors when you file bankruptcy. You have the option of utilizing the state exemptions. After filing for bankruptcy in Rhode Island, this property is safe. Be aware that there are certain debts that you will not be able to erase in bankruptcy. These are non-dischargeable debts.

There are some limits on certain exemptions such as equity that you have in a home or in a vehicle. The difference between the cost of the item and the amount owed on the item is the definition of equity. If the item is secured by a loan and timely payments are made, the equity is protected by your exemptions. A debtor must generally pay the trustee the value of the non-exempt property to keep the property. If you choose to keep the property, continual timely payments ensure that the property is protected throughout the bankruptcy.

This is a list of some of the available exemption in the State of Rhode Island. You can obtain and more detailed list of exemptions by contacting a qualified Rhode Island bankruptcy attorney in your area. They will be able to list and explain all of the state exemptions.

The best way to determine which exemptions to utilize is to meet with a qualified and proven bankruptcy attorney which can evaluate your individual case and guide you through the process. Contact a Rhode Island bankruptcy lawyer today.


Homestead: Land and buildings you occupy or intend to occupy as a principal residence up to $300,000. Husband and wife may not double this exemption.

Pensions: Tax-exempt retirement accounts, including 401(k)s, 403(b)s, profit-sharing and money-purchase plans, SEP and SIMPLE IRAs and defined-benefits plans, traditional and Roth IRAs up to $1,095,000 per person, ERISA-qualified benefits, IRA and Roth IRAs, State and municipal employees, Police officers, Firefighters, Private employees

Insurance: Fraternal benefit society benefits, Temporary disability insurance, Life insurance proceeds if clause prohibits proceeds from being used to pay beneficiary’s creditors, Accident or sickness avails, proceeds or benefits

Miscellaneous: Property of business partnership, Earnings of a minor child

Personal Property: Clothing, Bibles and books to $300, Beds, bedding, household goods, supplies and furniture up to $8,600 total (husband and wife may not double), Jewelry to $1,000, Motor vehicle to $10,000, Burial plot, Consumer cooperative association holdings to $50, prepaid tuition program or tuition savings account, Debt secured by promissory note or bill of exchange

Public Benefits: Workers’ compensation, Crime victims’ compensation, Unemployment compensation, Family assistance benefits, Veterans’ disability or survivors’ death benefits, State disability benefits, Aid to blind, aged and/or disabled, General assistance

Tools of Trade: Working tools up to $1,200, Library of practicing professional

Wages: Earned but unpaid wages to seamen, Earned but unpaid wages due to military member on active duty, Earned but unpaid wages to $50, Wages of spouse and any minor children, Wages paid by charitable organization or fund providing relief to the poor, Wages of any person who had been receiving public assistance are exempt for 1 year after end of public assistance

Wildcard: None

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