Bankruptcy Exemption Calculator

ANA›Life Services Authority›National Calculator Authority›Bankruptcy Exemption Calculator

.calc-container { max-width: 640px; margin: 2rem 0; padding: 1.5rem; background: #fff; border: 1px solid #ddd; border-radius: 8px; box-shadow: 0 1px 3px rgba(0,0,0,0.06); font-family: system-ui, -apple-system, sans-serif; } .calc-container h3 { font-family: Georgia, serif; font-size: 1.15rem; color: #1a1a1a; margin-bottom: 1rem; padding-bottom: 0.5rem; border-bottom: 2px solid var(--ac, #3d5a80); } .calc-row { display: flex; align-items: center; gap: 0.75rem; margin-bottom: 0.75rem; flex-wrap: wrap; } .calc-row label { min-width: 160px; font-size: 0.9rem; color: #333; font-weight: 500; } .calc-row input[type="number"], .calc-row select { flex: 1; min-width: 120px; max-width: 200px; padding: 0.5rem 0.6rem; border: 1px solid #ccc; border-radius: 4px; font-size: 0.9rem; font-family: system-ui, sans-serif; color: #1a1a1a; background: #fafaf8; } .calc-row input:focus, .calc-row select:focus { outline: none; border-color: var(--ac, #3d5a80); box-shadow: 0 0 0 2px rgba(26,74,138,0.12); } .calc-row .unit { font-size: 0.82rem; color: #888; min-width: 30px; } .calc-btn { display: inline-block; margin-top: 0.5rem; padding: 0.55rem 1.5rem; background: var(--ac, #3d5a80); color: #fff; border: none; border-radius: 4px; font-size: 0.9rem; font-weight: 600; cursor: pointer; font-family: system-ui, sans-serif; } .calc-btn:hover { opacity: 0.9; } .calc-result { margin-top: 1.25rem; padding: 1rem 1.25rem; background: #f0f6fc; border-left: 3px solid var(--ac, #3d5a80); border-radius: 0 6px 6px 0; display: none; } .calc-result.visible { display: block; } .calc-result-label { font-size: 0.78rem; text-transform: uppercase; letter-spacing: 0.06em; color: #666; margin-bottom: 0.25rem; } .calc-result-value { font-size: 1.6rem; font-weight: 700; color: var(--ac, #3d5a80); } .calc-result-detail { font-size: 0.85rem; color: #555; margin-top: 0.5rem; line-height: 1.5; } .calc-note { margin-top: 1rem; font-size: 0.8rem; color: #888; font-style: italic; } .calc-grid { display: grid; grid-template-columns: 1fr 1fr; gap: 0.75rem; margin-top: 0.75rem; } .calc-grid-item { padding: 0.6rem 0.8rem; background: #f8f9fa; border-radius: 4px; border: 1px solid #eee; } .calc-grid-item .label { font-size: 0.75rem; color: #888; text-transform: uppercase; letter-spacing: 0.04em; } .calc-grid-item .value { font-size: 1.1rem; font-weight: 600; color: #1a1a1a; } @media (max-width: 720px) { .calc-row { flex-direction: column; align-items: flex-start; gap: 0.3rem; } .calc-row label { min-width: auto; } .calc-row input[type="number"], .calc-row select { max-width: 100%; width: 100%; } .calc-grid { grid-template-columns: 1fr; } } .calc-chart { margin: 1rem 0; text-align: center; } .calc-chart svg { max-width: 100%; height: auto; } .calc-chart-legend { display: flex; flex-wrap: wrap; justify-content: center; gap: 0.6rem 1.2rem; margin-top: 0.6rem; font-size: 0.8rem; color: #555; } .calc-chart-legend span { display: inline-flex; align-items: center; gap: 0.3rem; } .calc-chart-legend i { display: inline-block; width: 10px; height: 10px; border-radius: 2px; font-style: normal; } .calc-related { max-width: 640px; margin: 2rem 0 1rem; padding: 1.25rem 1.5rem; background: #f8f9fa; border: 1px solid #e8e8e8; border-radius: 8px; } .calc-related h3 { font-family: Georgia, serif; font-size: 1rem; color: #1a1a1a; margin: 0 0 0.75rem; padding-bottom: 0.4rem; border-bottom: 2px solid var(--ac, #3d5a80); } .calc-related-list { list-style: none; padding: 0; margin: 0 0 0.75rem; display: grid; grid-template-columns: 1fr 1fr; gap: 0.4rem 1.5rem; } .calc-related-list li a { font-size: 0.88rem; color: var(--ac, #3d5a80); text-decoration: none; } .calc-related-list li a:hover { text-decoration: underline; } .calc-browse-all { margin: 0.5rem 0 0; font-size: 0.9rem; font-weight: 600; } .calc-browse-all a { color: var(--ac, #3d5a80); text-decoration: none; } .calc-browse-all a:hover { text-decoration: underline; } @media (max-width: 720px) { .calc-related-list { grid-template-columns: 1fr; } }

Bankruptcy Exemption Calculator

Estimate how much of your property may be protected (exempt) from creditors when filing for bankruptcy under federal or state exemption guidelines.

State / Exemption System

Federal Exemptions California (System 1) Texas Florida New York Illinois Ohio Pennsylvania Georgia North Carolina Michigan

Home Equity Value ($)

Current market value minus mortgage balance

Motor Vehicle Equity ($)

Current value minus any auto loan balance

Household Goods & Furnishings ($)

Jewelry ($)

Tools of the Trade ($)

Equipment used in your profession or business

Retirement Accounts ($)

401(k), IRA, pension, etc.

Other Assets / Wildcard ($)

Cash, bank accounts, or other personal property

Calculate Exemptions

function banCalc() { // --- Read inputs --- var state = document.getElementById('ban-state').value; var homestead = parseFloat(document.getElementById('ban-homestead').value) || 0; var vehicle = parseFloat(document.getElementById('ban-vehicle').value) || 0; var household = parseFloat(document.getElementById('ban-household').value) || 0; var jewelry = parseFloat(document.getElementById('ban-jewelry').value) || 0; var tools = parseFloat(document.getElementById('ban-tools').value) || 0; var retirement = parseFloat(document.getElementById('ban-retirement').value) || 0; var wildcard = parseFloat(document.getElementById('ban-wildcard').value) || 0;

// --- Validation --- var errors = []; if (homestead 0) { document.getElementById('ban-result').style.display = 'block'; document.getElementById('ban-result').innerHTML = 'Please fix the following:' + errors.join('') + '

'; return; }

// --- Exemption limits by state (2024 figures) --- // Format: { homestead, vehicle, household, jewelry, tools, retirement, wildcard, wildcardNote } var limits = { federal: { homestead: 27900, vehicle: 4450, household: 14875, jewelry: 1875, tools: 2800, retirement: Infinity, wildcard: 1475, wildcardBonus: 13950, // unused homestead portion can be added to wildcard name: "Federal Exemptions (11 U.S.C. § 522)" }, CA: { homestead: 300000, vehicle: 3325, household: 8725, jewelry: 1750, tools: 8725, retirement: Infinity, wildcard: 1550, wildcardBonus: 0, name: "California System 1 (CCP § 703)" }, TX: { homestead: Infinity, vehicle: Infinity, household: 100000, jewelry: Infinity, tools: Infinity, retirement: Infinity, wildcard: 0, wildcardBonus: 0, note: "TX: Homestead unlimited; personal property capped at $100,000 (family) total", name: "Texas Exemptions (Tex. Prop. Code § 41)" }, FL: { homestead: Infinity, vehicle: 1000, household: Infinity, jewelry: Infinity, tools: Infinity, retirement: Infinity, wildcard: 4000, wildcardBonus: 0, note: "FL: Homestead unlimited (acreage limits apply); personal property $4,000 wildcard", name: "Florida Exemptions (Fla. Stat. § 222)" }, NY: { homestead: 179950, vehicle: 4550, household: 11975, jewelry: 1175, tools: 3600, retirement: Infinity, wildcard: 1175, wildcardBonus: 0, name: "New York Exemptions (CPLR § 5205, Debtor & Creditor Law § 282)" }, IL: { homestead: 15000, vehicle: 2400, household: 4000, jewelry: Infinity, tools: 1500, retirement: Infinity, wildcard: 4000, wildcardBonus: 0, name: "Illinois Exemptions (735 ILCS 5/12-901)" }, OH: { homestead: 161375, vehicle: 4000, household: 13400, jewelry: 1700, tools: 2525, retirement: Infinity, wildcard: 1325, wildcardBonus: 0, name: "Ohio Exemptions (ORC § 2329.66)" }, PA: { homestead: 0, vehicle: 0, household: 300, jewelry: 0, tools: 0, retirement: Infinity, wildcard: 300, wildcardBonus: 0, note: "PA: Very limited exemptions; no homestead exemption in bankruptcy", name: "Pennsylvania Exemptions (42 Pa. C.S. § 8123)" }, GA: { homestead: 21500, vehicle: 5000, household: 5000, jewelry: 500, tools: 1500, retirement: Infinity, wildcard: 1200, wildcardBonus: 0, name: "Georgia Exemptions (O.C.G.A. § 44-13-100)" }, NC: { homestead: 35000, vehicle: 3500, household: 5000, jewelry: 2000, tools: 2000, retirement: Infinity, wildcard: 500, wildcardBonus: 0, name: "North Carolina Exemptions (N.C.G.S. § 1C-1601)" }, MI: { homestead: 40475, vehicle: 3725, household: 4550, jewelry: 1700, tools: 2775, retirement: Infinity, wildcard: 1350, wildcardBonus: 0, name: "Michigan Exemptions (MCL § 600.5451)" } };

var L = limits[state];

// --- Calculate exempt amounts per category --- // exempt = min(asset_value, limit) var exHomestead = Math.min(homestead, L.homestead === Infinity ? homestead : L.homestead); var exVehicle = Math.min(vehicle, L.vehicle === Infinity ? vehicle : L.vehicle); var exHousehold = Math.min(household, L.household === Infinity ? household : L.household); var exJewelry = Math.min(jewelry, L.jewelry === Infinity ? jewelry : L.jewelry); var exTools = Math.min(tools, L.tools === Infinity ? tools : L.tools); var exRetirement = Math.min(retirement, L.retirement === Infinity ? retirement : L.retirement);

// Wildcard: base wildcard + unused homestead bonus (federal rule) var unusedHomestead = (L.homestead !== Infinity) ? Math.max(0, L.homestead - homestead) : 0; var wildcardPool = L.wildcard + Math.min(unusedHomestead, L.wildcardBonus || 0); var exWildcard = Math.min(wildcard, wildcardPool);

// Texas special: personal property cap $100,000 total (non-homestead) if (state === 'TX') { var txPersonal = exVehicle + exHousehold + exJewelry + exTools + exWildcard; if (txPersonal > 100000) { var scale = 100000 / txPersonal; exVehicle = Math.round(exVehicle * scale * 100) / 100; exHousehold = Math.round(exHousehold * scale * 100) / 100; exJewelry = Math.round(exJewelry * scale * 100) / 100; exTools = Math.round(exTools * scale * 100) / 100; exWildcard = Math.round(exWildcard * scale * 100) / 100; } }

var totalExempt = exHomestead + exVehicle + exHousehold + exJewelry + exTools + exRetirement + exWildcard; var totalNonExempt = totalAssets - totalExempt; var exemptPct = totalAssets > 0 ? (totalExempt / totalAssets * 100).toFixed(1) : 0;

// --- Format helpers --- function fmt(v) { if (v === Infinity) return "Unlimited"; return '$' + v.toLocaleString('en-US', {minimumFractionDigits: 2, maximumFractionDigits: 2}); } function fmtLim(v) { if (v === Infinity) return "Unlimited"; return '$' + v.toLocaleString('en-US', {minimumFractionDigits: 0, maximumFractionDigits: 0}); }

// --- Build result HTML --- var html = '### Exemption Summary — ' + L.name + ' ';

if (L.note) { html += '⚠ ' + L.note + '

'; }

html += ''; html += '' + 'Asset Category' + 'Your Value' + 'Exemption Limit' + 'Exempt Amount' + 'At Risk' + '';

var rows = [ ["Home Equity", homestead, L.homestead, exHomestead], ["Motor Vehicle", vehicle, L.vehicle, exVehicle], ["Household Goods", household, L.household, exHousehold], ["Jewelry", jewelry, L.jewelry, exJewelry], ["Tools of the Trade", tools, L.tools, exTools], ["Retirement Accounts", retirement, L.retirement, exRetirement], ["Other / Wildcard", wildcard, wildcardPool, exWildcard] ];

var odd = true; rows.forEach(function(r) { var atRisk = r[1] - r[3]; var bg = odd ? '#f9f9f9' : '#fff'; odd = !odd; html += '' + '' + r[0] + '' + '' + fmt(r[1]) + '' + '' + fmtLim(r[2]) + '' + '' + fmt(r[3]) + '' + ' 0 ? '#e74c3c' : '#27ae60') + ';font-weight:600;">' + (atRisk > 0 ? fmt(atRisk) : '—') + '' + ''; });

html += '' + '' + 'TOTAL' + '' + fmt(totalAssets) + '' + '—' + '' + fmt(totalExempt) + '' + '' + fmt(Math.max(0, totalNonExempt)) + '' + '';

// Summary cards html += '';

html += '' + 'Total Exempt' + '' + fmt(totalExempt) + '' + '' + exemptPct + '% of total assets' + '';

html += ' 0 ? '#fdf2f2' : '#eafaf1') + ';border-left:4px solid ' + (totalNonExempt > 0 ? '#e74c3c' : '#27ae60') + ';padding:12px;border-radius:4px;">' + 'Potentially At Risk' + ' 0 ? '#e74c3c' : '#27ae60') + ';">' + fmt(Math.max(0, totalNonExempt)) + '' + 'May be liquidated by trustee' + '';

if (state === 'federal' && L.wildcardBonus > 0) { var bonusUsed = Math.min(unusedHomestead, L.wildcardBonus); html += '' + 'Wildcard Pool Used' + '' + fmt(wildcardPool) + '' + 'Base $' + L.wildcard.toLocaleString() + ' + $' + bonusUsed.toLocaleString() + ' homestead bonus' + ''; }

html += '';

// Recommendation html += ''; if (totalNonExempt ';

var el = document.getElementById('ban-result'); el.style.display = 'block'; el.innerHTML = html; }

#### Formula

For each asset category:

Federal Wildcard Bonus (11 U.S.C. § 522(d)(5)): Wildcard Pool = $1,475 + min(Unused Homestead Exemption, $13,950) Unused Homestead = max(0, $27,900 − Home Equity)

Texas Personal Property Cap: If ∑(non-homestead exempt) > $100,000, each category is scaled proportionally: Adjusted Exempti = Exempti × (100,000 / ∑Personal Exempt)

#### Assumptions & References

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References

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