Judgment Execution and Bankruptcy in Alaska
Your Alaska attorney can and will advise you regarding the court judgment exemptions in the state Alaska. Your attorney will tell you there are some things the creditor cannot “take”by way of execution of a judgment. There is an extensive list (Learn More of these items in the Alaska state statutes. By enactment of laws exempting certain property from court judgment execution the State Legislature is trying to assure that a judgment debtor cannot be made completely destitute.
Moreover, the United States Federal Bankruptcy Code provides exemptions as to what can be taken from the debtor. The idea for these exemptions is the same as that regarding the exemption of certain items from execution under a court judgment.
The following is list of property exempted under the Bankruptcy provisions of the state of Alaska:
Property
Homestead, $54,000 in principal residence, whether single or multiple owners, but subject to certain liens; proceeds also exempt located in Alaska for months
Insurance
Disability benefits
Fraternal benefit society benefits
Insurance proceeds for personal injury, to extent wages exempt (bankruptcy judge may authorize a greater amount)
Insurance proceeds for wrongful death, to extent wage are exempt
Public Benefits
Adult assistance to elderly, blind, disabled
AFDC
Alaska longevity bonus
Crime victims’ compensation
Federally exempt public benefits paid or due
General relief assistance
45% of permanent fund dividends
Tuition credits under an advance college tuition payment contract
Unemployment compensation Workers’ compensation
Tools of Trade
Implements and tools of trade up to $2,800
Wages
Weekly net earnings to $350; for sole wage earner in a household, $550; if you don’t receive weekly, monthly or semi monthly pay, can claim $1,400 in cash or liquid assets paid in any month; for sole wage earners in household, $2,200
Bankruptcy Court
U.S. Bankruptcy Court
605 West 4th Avenue
Anchorage, AK 99501-2296
(907) 271-2655
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