WASHINGTON BANKRUPTCY LAW
Washington Bankruptcy: Attorneys, Statistics, Exemptions and Courts.
Washington Bankruptcy Statistics: In 2009, over 30,000 bankruptcies were filed in the state of Washington. Business bankruptcies accounted for 1,158 and personal bankruptcies accounted for 30,379 or more than 96.33% of Washington Bankruptcies.
Washington State Bankruptcy Exemptions:
If the residence consists of real estate, manufactured home, mobile home, or improvements to any of these the exception is limited to $125,000. If the residence is a form of personal property other than listed above, the exception is limited to a significantly lower $15,000.
If the debt is a result of failure to pay income taxes on a Washington pension or a retirement plan, then there is no limit on the homestead exemption.
The following items are entirely exempt when filing for bankruptcy in Washington:
The following exemptions are subject to limitations:
The following exemptions have different limitations for a single person and a married couple:
The following insurance policies are exempt when filing bankruptcy in Washington:
In a Washington bankruptcy, the following individuals’ and their survivor’s pensions are exempt:
The following pension types are exempt:
The following public benefits are exempt when filing bankruptcy in Washington:
When the debtor is a partner in a business, the property of the business is exempt.
Wages up to 35 times the federal limit or 75% of the disposable earnings of the debtor, whichever is greater is exempt when filing bankruptcy in Washington. A judge may be authorized to increase the amount for low-income debtors.
Tools of the Trade
The following exemptions can be claimed only by a farmer for up to $5,000:
The following exemptions can be claimed by medical doctors, attorneys, clergymen or other professionals for up to $5,000:
All other debtors can exempt $5,000 for materials and instruments used to continue their trade.
When filing for bankruptcy in Washington State, another $2,000 in personal property may be exempt in accordance with the following conditions:
Federal Bankruptcy Exemptions: Yes
Washington Bankruptcy Courts:
United States Bankruptcy Court in the Eastern District of Washington has jurisdiction in the following counties: Adams, Asotin, Benton, Chelan, Columbia, Douglas, Ferry. Franklin, Garfield, Grant, Kittitas, Klickitat, Lincoln, Okanogan, Pend Oreille, Spokane, Stevens, Walla Walla, Whitman, Yakima.
United States Bankruptcy Court in the Western District of Washington has jurisdiction in the following counties: Clallam, Clark, Cowlitz, Grays Harbor, Island, Jefferson, King, Kitsap, Lewis, Mason, Pacific, Pierce, Skagit, Skamania, Snohomish, Thurston, Whakiakum, Whatcom.