

The Essential Rhode Island Bankruptcy Information Guide
Rhode Island, RI Bankruptcy Exemptions
BANKRUPTCY FEDERAL EXEMPTIONS ARE AVAILABLE.
All law references are to Rhode Island, RI Bankruptcy Code.All property of the debtor at the time of the filing for bankruptcy (and certain other property to be received in the future) becomes the property of the bankruptcy estate once bankruptcy is filed. This means that the bankruptcy trustee will take control of this property for purposes of satisfying the creditors. HOWEVER, there is certain property which is either excluded or exempt which the debtor will be able to keep. Property or asset exemption are determined based upon your specific situation, personal income and the individual laws of your state.
The best way to determine which property you will be entitled to keep requires a detailed analysis of your unique and personal situation. Although the following Federal and State Bankruptcy Asset Exemption is provided for your information, we highly recommend Finding a Good Bankruptcy Attorney to help guide you through the Bankruptcy Process.
All law references are to Rhode Island Bankrutcy Code.
| ASSET | EXEMPTION DESCRIPTION | LAW SECTION |
HOMESTEAD |
$300,000 occupied or inteded to be occupied as primary residence. |
9-26-4.1 |
INSURANCE |
Accident or sickness proceeds, avails or benefits |
27-18-24 |
Fraternal benefit society benefits |
27-25-18 |
|
Life insurance proceeds if clause prohibits proceeds from being used to pay beneficiary’s creditors |
27-4-12 |
|
Temporary disability insurance |
28-41-32 |
|
MISCELLANEOUS |
Earnings of a minor child |
9-26-4(9) |
Property of a business partnership |
7-12-36 |
|
PENSIONS |
ERISA-qualified benefits |
9-26-4(11) |
Firefighters |
9-26-5 |
|
IRAs and Roth IRAs |
9-26-4 |
|
Police officers |
9-26-5 |
|
Private employees |
28-17-4 |
|
State & municipal employees |
36-10-34 |
|
Tax exempt retirement accounts; Traditional and Roth IRAa up the $1,095,000 per person. |
11 U.S.C. § 522 |
|
PERSONAL PROPERTY |
Furniture, beds and bedding, household goods and supplies up to $8,600 total |
9-26-4 |
Bibles & books to $300 |
9-26-4(4) |
|
Burial plot |
9-26-4(5) |
|
Clothing needed |
9-26-4(1) |
|
Consumer cooperative association holdings to $50 |
7-8-25 |
|
Debt secured by promissory note or bill of exchange |
9-26-4(7) |
|
All motor vehicles up to $10,000 total |
9-26-4 |
|
Jewelry up to $1,000 total |
9-26-4 |
|
Prepaid tuition accounts |
9-26-4 |
|
PUBLIC BENEFITS |
Aid to blind, aged, disabled, AFDC, general assistance |
40-6-14 |
State disability benefits |
28-41-32 |
|
Unemployment compensation |
28-44-58 |
|
Veterans’ disability or survivors’ death benefits |
30-7-9 |
|
Workers’ compensation |
28-33-27 |
|
Crime victim's compensation. |
12-25.1-3 |
|
Family assistance benefits. |
40-5.1-15 |
|
TOOLS OF TRADE |
Library of professional in practice |
9-26-4(2) |
Working tools up to $1,200 |
9-26-4 |
|
WAGES |
Earned but unpaid wages to $50 |
9-26-4(8) (C) |
Earned but unpaid wages due military member on active duty |
30-7-9 |
|
Earned but unpaid wages due seaman |
9-26-4(6) |
|
Earned but unpaid wages if received welfare during year before filing bankruptcy |
9-26-4(8) (B) |
|
Wages of spouse |
9-26-4(9) |
|
Wages paid by charitable organization to the poor |
9-26-4(8) (A) |

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