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.
Current market value minus mortgage balance
Current value minus any auto loan balance
Equipment used in your profession or business
401(k), IRA, pension, etc.
Cash, bank accounts, or other personal property
Formula
For each asset category:
- Exempt Amount = min(Asset Value, Exemption Limit)
- At-Risk Amount = Asset Value − Exempt Amount
- Total Exempt = ∑ all exempt amounts
- Total At Risk = Total Assets − Total Exempt
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
- Federal exemption amounts reflect 2022–2025 figures per 11 U.S.C. § 522(d); adjusted every 3 years by the Judicial Conference.
- Retirement accounts (401k, IRA, pension) are generally fully exempt under ERISA and 11 U.S.C. § 522(d)(10) or state equivalents.
- State exemption figures are approximate 2024 values; some states adjust periodically for inflation.
- Texas and Florida homestead exemptions are unlimited in dollar amount but subject to acreage limits (urban: 10 acres; rural: 100–200 acres).
- Pennsylvania has very limited exemptions; most debtors rely on federal exemptions if permitted (PA does not allow federal opt-in — debtors must use PA exemptions).
- Some states allow married couples to double exemptions ("doubling"); this calculator uses single-filer limits.
- This calculator is for educational purposes only and does not constitute legal advice. Consult a licensed bankruptcy attorney for case-specific guidance.
- Sources: 11 U.S.C. § 522; state statutes cited per jurisdiction; National Consumer Law Center Bankruptcy Exemptions guide (2024).