Personal Bankruptcy Information

Federal supplemental exemptions can be used in conjunction with your Tennessee exemptions and can be viewed here.

To find out how the exemptions apply in your specific situation you can schedule a free consultation with a local bankruptcy attorney.

ASSET	EXEMPTION DESCRIPTION	LAW SECTION
Homestead	$5000; $7500 for joint owners Life estate 2-15 year lease Spouse or child of deceased owner may claim homestead exemption Property held as tenancy by the entirety may be exempt against debts owed by only one spouse	26-2-301 26-2-302 26-2-303 26-2-301 In re Arango, 136 B.R. 740, aff’d, 992 F. 2d 611 (6th Cir. 1993)
Insurance	Accident, health or disability benefits for resident and citizen of Tennessee Disability or illness benefits Fraternal benefit society benefits Homeowners’ insurance proceeds to $5000 Life insurance or annuity for spouse/children/dependent relatives - exempt from all claims	26-2-110 26-2-111(1) ( C) 56-25-1403 26-2-304 56-7-03
Miscellaneous	Alimony owed for 30 days before filing for bankruptcy Property of business partnership	26-2-111(1) (E) 61-1-124
Pensions	ERISA-qualified benefits Public employees State & local government employees Teachers	26-2-111(1) (D) 8-36-111 26-2-104 49-5-909
Personal Property	Bible, schoolbooks, pictures, portraits, clothing & storage containers Burial plot to 1 acre Health aids Lost earnings payments for you or person you depended on Personal injury recoveries to $7500 (not to include pain and suffering); wrongful death recoveries to $10,000 (you can’t exempt more than $15,000 total for personal injury, wrongful death & crime victims’ compensation)	26-2-103 26-2-305, 46-2-102 26-2-111(5) 26-2-111(3) 26-2-111(2) (B) 26-2-111(2) ( C)
Public Benefits	Aid to blind Aid to disabled Crime victims’ compensation to $5000 (see personal property) Local public assistance Old-age assistance Social security Unemployment compensation Veterans’ benefits Workers’ compensation	71-4-117 71-4-1112 26-2-111(2) (A), 29-13-111 26-2-111(1) (A) 71-2-216 26-2-111(1) (A) 26-2-111(1) (A) 26-2-111(1) (B) 50-6-223
Tools of Trade	Implements, books & tools of trade to $1900	26-2-111(4)
Wages	Minimum 75% of earned but unpaid wages, plus $2.50 per week per child; bankruptcy judge may authorize more for low-income debtors	26-2-106 26-2-107
Wild Card	$4,000 of any personal property	26-2-102

• Tennessee Bankruptcy Forms
• Tennessee Bankruptcy Courts
• Tennessee Bankruptcies - Chapter 7 and Chapter 13 Bankruptcy Statistics

If you have a specific question about exemptions related to your situation you can schedule a free consultation with a local bankruptcy attorney.

You may also want to visit your federal bankruptcy
court web site:

• Tennessee Eastern Bankruptcy Court
• Tennessee Middle Bankruptcy Court
• Tennessee Western Bankruptcy Court