Unlike some states, Pennsylvania residents are allowed to use state and federal bankruptcy exemptions. These exemptions include but are not limited to:
Federal Bankruptcy Exemptions
- Child support
- Recent unpaid back taxes
- Some student loans
- Alimony
- Purchases made within 90 days of filing
- Fraudulent debts
- Life insurance contracts
- Pensions and retirement benefits
- Lost earnings payments
- Unemployment benefits
- Some personal injury settlements
Pennsylvania State Bankruptcy Exemptions
- Personal clothings
- Books – Bibles, textbooks, etc.
- Professional work uniforms
- Retirement funds
- Pension or annuity
- Insurance proceeds
- Social security benefits
- Workers’ compensation benefits
If you are considering filing Chapter 7, 11 or 13 Bankruptcy, do not hesitate to consult with an experienced bankruptcy attorney. Contact Real World Law, PC to schedule a consultation with Philadelphia Solo Bankruptcy Lawyer, Dr. Glenn A. Brown.