Re: Bankruptcy -Iowa

Posted by Why Chat (209.240.198.61) on December 12, 2002 at 21:21:11:

In Reply to: Bankruptcy -Iowa posted by Dontknow on December 12, 2002 at 20:53:44:

Exempt Property Iowa
Homestead • Real property unlimited value; property cannot exceed 1/2 acre in town or city, 40 acres elsewhere. Homestead subject to certain liens; new homestead purchased with
 prior homestead proceeds exempt to same extent.

Insurance • Accident, disability, health, illness or, life proceeds to $15,000
 Employee group insurance
 Benefits from fraternal society
 Life insurance proceeds to $10,000 for first two years of policy paid to spouse, child or
  other dependent.
Miscellaneous • Alimony, child support needed for support
 Liquor licenses
 Business partnership property
 Pensions and Retirement Benefits •
 Firefighters
 Police
 Public employees
 Other pensions needed for support (only payment being received).

Personal Property • Furnishings & household goods to $2,000
 Books, pictures & paintings to $1,000
 Burial plot to 1 acre
  Clothing to $1,000
 Motor vehicle & musical instruments to $5,000
 Wedding or engagement rings (received prior to marriage).
 Public Benefits • Exempt.
 AFDC
  Local public assistance
    Veterans' benefits
  Workers' compensation
 Adopted child assistance
 Social Security
 Unemployment compensation.
Tools of trade • Farming equipment, including livestock, feed to $10,000;
 Non-farming equipment to $10,000. (cannot include car).

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