How often do Exemptions change?

MC101296

Junior Member

Bankruptcy Newbie

Joined: Jul 2010

Posts: 14

State: Wisconsin
#1

How often do Exemptions change?

08-20-2010, 11:29 AM

I have to wait to file until next year and the WI exemptions look good now. Do they change from year to year?
Tags: None
SMinGA

Senior Member

Bankruptcy Tutor

Joined: Feb 2010

Posts: 1884
#2

08-20-2010, 12:03 PM

I can't speak for all states - but I know GA has not changed in years. The last change, though I don't know when it happened, was to increase the homestead exemption from $5k to $10k for each spouse.

My opinion: its not likely for the exemptions to change, and if they do it will not be in a big way.

Get mortgage modified: DONE! 7 months of back interest payments amortized, payment reduced over $200/mo
(In the 'planning' stage, to file ch. 13 if/when we have to.)
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tcreegan

Senior Member

Bankruptcy Mentor

Joined: Apr 2010

Posts: 2437

State: Colorado
#3

08-21-2010, 01:20 AM

Hi MC,

Wisconsin exemptions increased in Dec 2009

Get a copy dated sometime after that.

Nice state, you can use either state or federal exemptions !

Good luck with your filing,

Tom in Colo

Ch7 filed 5/12/2010.....341 meeting 6/30/2010....report of no distribution 8/15/2010.....discharged 10/01/2010.....closed 11/09/2010
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