Judgment Execution and Bankruptcy in Delaware
Your Delaware debt settlement attorney can and will advise you regarding the court judgment exemptions in the state of Delaware. 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 of these items in the Delaware 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 Delaware as of 2009:
PROPERTY
Real property, mobile home, manufactured home, or house trailer you occupy up to $50,000
Clothing, including jewelry; books; family pictures; piano; leased organs; sewing machines,
burial plot; church pew or any seat in public place of worship. Also $500 of any other personal
property if head of family (except tools of trade)
College investment plan (whichever is more; limit of $5,000 for a one year prior to filing or the
average of past 2 years contribution
Principal and income from spendthrift trust
INSURANCE
Life insurance proceeds
Health disability benefits
Group life insurance policy or proceeds
Annuity contract proceeds up to $350 per month
PENSIONS
Tax exempt retirement accounts; traditional Roth IRAs up to $1,095
Kent county employees
Police officers
Volunteer firefighters
State employees
PUBLIC BENEFITS
Aid to blind, aged, disabled, AFDC
Unemployment compensation
Crime victim compensation
Workers’ compensation
TOOLS OF TRADE
Tools, implements and fixtures, up to $75 in New Castle and Sussex counties, and up to $50 in
Kent county
Vehicles and/or tools of trade necessary for employment up to $15,000
Bankruptcy Courts:
U.S. Bankruptcy Court
824 North Market Street #500
Wilmington, DE 19801-4908
(302) 252-2900
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