Rhode Island Bankruptcy

Don’t waste one more minute being stuck in old debt. Chapter 7 bankruptcy was created to eliminate debt. Talk to a local Rhode Island bankruptcy attorney today about your debt-relief options.

We’ll connect you with a Rhode Island bankruptcy lawyer—and we’ll do it for free. Make the first step toward finding a real debt solution and enter your ZIP code below.

Filing Chapter 7 Bankruptcy in Rhode Island

Chapter 7 bankruptcy is also known as “liquidation” because a bankruptcy trustee may liquidate (sell) any of the debtor’s non-exempt assets. The money raised from selling these items is used to pay any unsecured debts that may be owed, such as credit card or medical bills.

But there is some good news–most people who file Chapter 7 bankruptcy don’t own any non-exempt personal property.

This means that in most Chapter 7 bankruptcy cases, there’s nothing for the trustee to or sell and debtors retain most or all of their property.

Rhode Island Bankruptcy Laws

If you live in Providence or anywhere else in Rhode Island and have been thinking about filing Chapter 7 bankruptcy, you probably have questions about Rhode Island’s bankruptcy exemptions.

A Rhode Island bankruptcy lawyer may be able to help you determine which, if any, of your property may be considered non-exempt property. Connect to a bankruptcy lawyer in your area by filling out the above free form.

Rhode Island Bankruptcy Exemptions

The following information provides a brief review of Rhode Island Chapter 7 exemptions. To get more detailed information about exemptions, contact a Rhode Island Chapter 7 bankruptcy lawyer today by filling out the above free form.

Important Chapter 7 bankruptcy exemptions in the state include:

Homestead: $300,000 for your home.

Wages:

• $50 of the debtor’s wages.
• 100 percent of the wages of the debtor’s spouse and children.
• 100 percent of wages are exempt if you work for a charitable organization or received state or federal relief within the year prior to filing.

Note: Filers may use federal bankruptcy exemptions and exempt up to 75 percent of their wages.

Vehicles: Up to $12,000 in total value of all vehicles owned.

Personal Property:

• 100 percent of clothing.
• $1,500 in used in your occupation and 100 percent of your professional library.
• Up to $9,600 in furniture and family stores.
• $300 in books.
• 1 burial plot.

Questions? Speak With a Rhode Island Chapter 7 Bankruptcy Lawyer

Bankruptcy exemptions can be complex. A local Rhode Island bankruptcy lawyer can tell you how Rhode Island’s bankruptcy exemptions could affect your Chapter 7 bankruptcy case.

At Chapter7.com, getting connected to a Rhode Island bankruptcy attorney is easy. Simply complete the above 2-minute free form or call us at 877-226-6844 and we’ll connect you.

Make the first move right now and fill out the above no obligation form.

Note: Keep in mind all laws are complex. If you need legal advice or want to fully understand how these laws affect you, please speak with a local attorney.

Laws may have changed since our last update. For the latest information on your state’s bankruptcy laws, speak to a local bankruptcy lawyer.