IA Bankruptcy Exemptions
FEDERAL BANKRUPTCY EXEMPTIONS ARE NOT AVAILABLE All law references are to Iowa Bankruptcy Code Annotated unless noted. |
ASSET |
EXEMPTION |
LAW PROVISION |
HOMESTEAD
|
Real property or an apartment to an unlimited value if acquired within after 1,215 days of filing (see new homestead laws); property cannot exceed ½ acre in town or city, 40 acres elsewhere |
499A.18, 561.2, 561.16 |
May record homestead declaration |
561.4 |
INSURANCE |
Accident, disability, health, illness or life proceeds or avails to $15,000, paid to surviving spouse, child or other dependent |
627.6(6) |
Employee group insurance policy or proceeds |
509.12 |
Life insurance proceeds to $10,000, acquired within 2 years of filing for bankruptcy, paid to spouse, child or other dependent |
627.6(6) |
Life insurance proceeds if clause prohibits proceeds from being used to pay beneficiary’s creditors |
508-32 |
MISCELLANEOUS |
Alimony, child support needed for support |
627-6(8)(d) |
Liquor licenses |
123.38 |
Property of business partnership |
544.25 |
PENSIONS
also see wages |
Disabled firefighters, police officers (only payments being received) |
410.11 |
Federal government pension (only payments being received) |
627.8 |
Firefighters |
411.13 |
Peace officers |
97A.12 |
Police officers |
411.13 |
Public employees |
97B.39 |
Other pensions needed for support (only payments being received) |
627.6(8)(e) |
PERSONAL PROPERTY |
Appliances, furnishings and household goods to $7,000 total |
627.6(5) |
Bibles, books, portraits, pictures and paintings to $1,000 total |
627.6(3) |
Burial plot to 1 acre |
627.6(4) |
Clothing plus receptacles to hold clothing |
627.6(1) |
Health aids |
627.6(7) |
Motor vehicle, musical instruments and tax refund to $7,000 total |
627.6(9) |
Rifle, musket; shotgun |
627.6(2) |
Wedding or engagement rings |
627.6(1) |
PUBLIC BENEFITS |
Adopted child assistance |
627.19 |
AFDC |
627.6(8)(a) |
Local public assistance |
627.6(8)(a) |
Social security |
627.6(8)(a) |
Unemployment compensation |
627.6(8)(a) |
Veterans’ benefits |
627.6(8)(b) |
Workers’ compensation |
627.13 |
TOOLS OF TRADE |
Farming equipment; includes livestock, feed to $10,000 (can’t include car, In re Van Pelt, 83 B.R. 617 (S.D.IOWA 1987) ) |
627.6(11) |
Non-farming equipment to $10,000 (can’t include car, In re Van Pelt, 83 B.R. 617 (S.D. Iowa 1987) ) |
627.6(10) |
WAGES |
Minimum 75% of earned but unpaid wages, pension payments; bankruptcy judge may authorize more for low-income debtors |
642.21 |
WILD CARD |
$1000 of any personal property, including cash |
627.6(13) |
Iowa Bankruptcy Courts
See the list below for Bankruptcy Courts by District. Click on the District link to go directly to that Bankruptcy Court's web site.
BANKRUPTCY COURTS |
NUMBER OF COPIES |
Northern District
Cedar Rapids Division
P.O. Box 74890 (52407)
425 2nd Street, S.E.
Cedar Rapids, IA 52407
Telephone: (319) 286-2200
Sioux City Division
117 U.S. Courthouse
320 6th Street
Sioux City, IA 51101
Telephone: (712) 233-3939
|
contact clerks office |
Southern District
P.O. Box 9264 (50306-9264)
110 East First and Court Avenue
Des Moines, IA 50309
Telephone: (515) 284-6230
|
contact clerks office
|
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