CONNECTICUT BANKRUPTCY LAW
Connecticut Bankruptcy: Attorneys, Statistics, Exemptions and Courts.
Connecticut Bankruptcy Statistics: In Connecticut, in 2009, 10,334 bankruptcies were filed. Business bankruptcies accounted for 467 or 4.52% and personal bankruptcies accounted for 9,867 or 95.48% of the total filings.
Connecticut State Bankruptcy Exemptions
The home (“homestead”) exemption is limited to $75,000 or up to $125,000 if the debt arose from hospital bills. Connecticut defines “homestead” to include real property, mobile homes, and manufactured homes for claims arising after 1993.
The following expenses or items are exempt in their entirety in Connecticut:
The following expenses or items are exempt up to a specified limit in Connecticut:
The following individuals’ and their survivors’ pension benefits are exempt when filing for bankruptcy in Connecticut:
The following pension types are exempt or partially exempt when filing for bankruptcy in Connecticut:
The following insurance types are entirely or partially exempt when filing for bankruptcy in Connecticut:
The following public benefits are exempt when filing for bankruptcy in Connecticut:
Tools of the trade
This is a separate exemption. The following items have been considered tools of the trade in the state of Connecticut:
In Connecticut, the greater of 75% or more of unpaid, disposable weekly earnings or forty times the federal or state minimum wage is exempt.
The following miscellaneous expenses are exempt when filing for bankruptcy in Connecticut:
Any property, limited to $1,000.
Federal Exemptions: Yes, debtors are allowed to take federal exemptions when filing for bankruptcy in Connecticut.
Connecticut Bankruptcy Court: