Virginia Bankruptcy Exemptions, Laws, and Resources

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Jeffrey Johnson is a legal writer with a focus on personal injury. He has worked on personal injury and sovereign immunity litigation in addition to experience in family, estate, and criminal law. He earned a J.D. from the University of Baltimore and has worked in legal offices and non-profits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman Univer...

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Written by Jeffrey Johnson
Insurance Lawyer Jeffrey Johnson

UPDATED: Jul 16, 2021

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Federal bankruptcy exemptions available? NO

Though the provisions are not included in the Virginia statutory homestead exemption, courts have held that the exemption can apply to a mobile home and that real property owned by a married couple as a tenancy by the entirety may be exempt if only one of the spouses is the debtor.

The references to Virginia statutes are to the Code of Virginia.


United States Bankruptcy Court, Eastern District of Virginia

United States Bankruptcy Court, Western District of Virginia

Virginia Bankruptcy Attorneys

Virginia Bankruptcy Exemptions
Assets Exemption State Statutes
Homestead Homestead: up to $5,000 plus an additional $500 for each dependent of the debtor. 34-4
  Rents and profits or funds from sale of exempt homestead property 34-18; 34-20
  Unused homestead exemption: up to $5,000 for any personal property. 34-4
  Debtor must file homestead declaration before filing for bankruptcy in order to take the exemption. 34-6
  Exemption if owner deceased: up to $20,000 for surviving spouse; if no surviving spouse, up to $20,000 for minor children.  64.2-311
Insurance Life insurance proceeds: all. 38.2-3122
  Group life insurance policy/proceeds: all. 38.2-3339
  Sickness or accident benefits 38.2-3406
  Industrial benefits for illness: all. 38.2-3549
  Cooperative life insurance benefits: all. 38.2-3811
  Burial society benefits: all. 38.2-4021
  Benefits from a fraternal benefit society: all. 38.2-4118
  Group life or accident insurance benefits for government officials: all. 51.1-510
Miscellaneous Property owned by business partnership: all. 50-73.108
Pensions Federal pension exemptions.  
  Benefits qualified under ERISA 34-34
  State employee pensions: all. 51.1-124.4(A)
  State police officer pensions: all. 51.1-200
  Judge pensions: all. 51.1-300
  City, town, and county employee pensions: all. 51.1-802
Personal Property Contracts for prepaid tuition: all. 23-38.81(E)
  Bible: 1 family Bible. 34-26(1)
  Engagement and wedding rings: all. 34.26(1a)
  Heirlooms and family portraits: up to $5,000 total. 34-26(2)
  Burial plot: all 34-26(3)
  Preneed funeral contract: up to $5,000. 34-26(3)
  Clothing: up to $1,000. 34-26(4)
  Household furnishings: up to $5,000. 34.26(4a)
  Pets: all. 34-26(5)
  Health aids: all medically prescribed. 34-26(6)
  Motor vehicle: up to $6,000. 34-26(8)
  Recovery and claim for personal injury: all. 34-28.1
Public Benefits Payments to tobacco farmers: all. 3.2-3107
  Crime victim’s compensation benefits: all unless debt is for treatment of injury incurred during crime. 19.2-368.12
  Unemployment compensation benefits: all. 60.2-600
  General relief benefits: all. 63.2-506
  Blind, aged, and disability benefits: all. 63.2-506
  Worker’s compensation benefits: all. 65.2-531
Tools of Your Trade Tools, books, and instruments necessary for trade or education, including motor vehicle: up to $10,000 total. 34-26(7)
  For farmer, horses or mules with gear: up to 2. 34-27
  For farmer, 1 tractor: up to $3,000. 34-27
  For farmer, 1 wagon or cart, 2 plows and wedges; 1 drag, harvest cradle: up to $1,000 total. 34-27
  For military member, arms, equipment, and uniforms: all. 44-96
Wages Wages: at least 75% of the weekly disposable earnings or 40 times the federal minimum hourly wage, whichever is greater. The bankruptcy judge may allow a larger exemption for low-income debtors. 34-29
Wildcard For disabled veterans, any property: up to $10,000. 34-4.1
  Any personal property: any unused part of the homestead exemption. 34-13

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