Judgment Execution and Debt in Idaho
Your Idaho debt settlement attorney can and will advise you regarding the court judgment exemptions in the state of Idaho. 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 Idaho 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 Idaho as of 2009:
PROPERTY
Real property or mobile home up to $100,000. Sale proceeds are exempt for 6 months. If property is not yet occupied, must file homestead declaration
Personal injury and wrongful death recoveries needed for support. College savings program account
Motor vehicles up to $5,000; jewelry up to $1,000, clothing, pets, 1 firearm, appliances, furnishings, books, musical instruments, family portraits, and sentimental heirlooms up to $500 per item and $5,000 total; crops cultivated by debtor up to 50 acres (including water rights up to 160 inches) up to $1,000; any tangible personal property up to $500
Clothing
Proceeds for damaged exempt property, for up to 3 months after received
Building materials
INSURANCE
Medical or hospital care benefits and amount in medical savings account
Un-matured life insurance contract, other than credit life insurance contract, un-matured life insurance contract under which the insured is the debtor or the debtor’s dependent, up to $5,000
Death and disability benefits
Life insurance proceeds, dividend, interest, loan, cash or surrender value if the insured is not the beneficiary
Group life insurance benefits
Annuity contract proceeds up to $1,250 per month
Life insurance proceeds if policy prohibits payment to creditors
Fraternal benefit society benefits
Up to the amount of the homestead exemption, homeowner’s insurance proceeds
PENSIONS
Firefighters
Police officers
ERISA qualified benefits
Public employees
Tax exempt retirement accounts. Traditional IRAs and Roth IRAs up to $1,095,000
Retirement plans, government and private pensions, IRAs, Roth IRAs, Keoghs, etc
WAGES
Either a minimum of 75% of earned but unpaid wages or 30 times the federal hourly minimum wage, whichever is greater, pension payments. Judge may approve more for low income debtors
TOOLS OF TRADE
Tools, books and implements of trade up to $1,500; arms, uniforms, and accoutrements required to be kept by peace officer, National Guard or military personnel
Bankruptcy Courts:
U.S. Bankruptcy Court
550 W. Fort St. Rm. 400
Boise, ID 83724
U.S. Bankruptcy Court
220 E. 5th Street, Rm. 304
Moscow, ID 83843
U.S. Bankruptcy Court
801 E. Sherman St. Rm. 119
Pocatello, ID 83201
U.S. Bankruptcy Court
6450 N. Mineral Drive
Coeur d’Alene, ID 83815
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