Hawaii Bankruptcy Laws

Ever Thought About Filing Bankruptcy in Hawaii?

If you are a Hawaii resident and are considering filing for bankruptcy a Hawaii bankruptcy attorney will go over all of your options.

See, with the help of a Hawaii bankruptcy attorney, whether filing Chapter 7 or Chapter 13 bankruptcy is right for you.

For an appointment with a local Hawaii bankruptcy attorney just fill out the form on this page.

Hawaii Bankruptcy Law and State Exemptions

In your first consultation with your Hawaii bankruptcy attorney you will learn all of the major differences from Chapter 7 and Chapter 13 bankruptcy.

Within this consultation your bankruptcy attorney in Hawaii will ask you many personal finance questions or provide you with a profile sheet to list specific details regarding your personal finances. The answers you provide should assist you and your attorney in deciding if filing Chapter 7 or Chapter 13 bankruptcy is right for you.

Chapter 7 bankruptcy is often called liquidation as the bankruptcy trustee may opt to sell or auction non-exempted property (see State Exemptions list below).

However, in the most of Chapter 7 bankruptcy cases, the person filing bankruptcy owns no non-exempt property, so this would not apply to the majority of filings. Provided you do not own much property or have many assets Chapter 7 bankruptcy may be the best choice since you would be allowed to discharge most of your unsecured debt.

Before filing Chapter 7 bankruptcy please discuss your situation with a Hawaii bankruptcy attorney to determine exactly how much property may be exempt from liquidation.

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Hawaii State Exemptions

Homestead

1. $30,000 exemption for heads of family, anyone older than 65-years-old.
2. $20,000 for anyone else.
3. Money paid from the sale of property is exempt for six months after the sale.

Wages

1. Wages, salaries, commissions and all other compensation due in the 31 days prior to the judgment.
2. 95 percent of the first $100 earned in the first month after judgment.
3. 90 percent of the next $100 per month.
4. 80 percent of all sums above $200 per month.

Automobiles

$2,575 exemption for equity in an automobile.

Personal Property

1. 100 percent of necessary household furnishings and appliances, books and clothes used by you and your family.
2. Up to $1,000 of jewelry, watches and other items of personal adornment.
3. 100 percent of all tools, equipment and furnishings used in a trade, business or profession.

Chapter 13 Bankruptcy is often called “reorganization”. Those filing Chapter 13 may own more property and by filing Chapter 13 may also retain the majority of their assets.

In Chapter 13 bankruptcy, the debtor draws up a proposal for a repayment plan for a term of 3 to 5 years, which must be approved by a bankruptcy court. This installment plan enables the debtor to repay outstanding bills owed.

• Speak With a California Bankruptcy Attorney Today

Have you thought about filing bankruptcy in Hawaii you may not know where to begin or simply feel burdened by the state specific bankruptcy laws?

To clear up any questions about the bankruptcy laws, a Hawaii bankruptcy attorney will be able to guide you through the bankruptcy process in everyday terms. When you consult a Hawaii bankruptcy attorney you will also be able to get many of your questions and concerns answered in the initial consultation.

We take the stress out of finding a Hawaii bankruptcy attorney. Just complete our bankruptcy questionnaire on this page and we will connect you with a Hawaii bankruptcy attorney in your area.

Note: This is not legal advice. All bankruptcy laws in any state need the consult of a bankruptcy attorney licensed in that state. Consult a local attorney if you are seeking legal advice. Some or all bankruptcy laws may have changed since this page was created.

Hawaii bankruptcy attorneys are available in these locations:

AIEA, ANAHOLA, BANCORP, BANK OF HAWAII, BOARD OF WATER SUPPLY, CAMP H M SMITH, CAPTAIN COOK, EAST WEST CENTER, ELEELE, EWA BEACH, FIRST HAWAIIAN BANK, FORT SHAFTER, GTE HAWAIIAN TELEPHONE, HAIKU, HAKALAU, HALEIWA, HANA, HANALEI, HANAMAULU, HANAPEPE, HAUULA, HAWAII NATIONAL PARK, HI NATL PARK, HAWAIIAN ELECTRIC COMPANY, HAWI, HICKAM AFB, HILO, HOLUALOA, HON, HONAUNAU, HONOKAA, HONOLULU, HONOMU, HOOLEHUA, KAAAWA, KAHUKU, KAHULUI, KAILUA, KAILUA KONA, KALAHEO, KALAUPAPA, KAMUELA, KANEOHE, KAPAA, KAPAAU, KAPOLEI, KAUMAKANI, KAUNAKAKAI, KEAAU, KEALAKEKUA, KEALIA, KEKAHA, KIHEI, KILAUEA, KOLOA, KUALAPUU, KULA, KUNIA, KURTISTOWN, LAHAINA, LAIE, LANAI CITY, LAUPAHOEHOE, LAWAI, LIHUE, M C B H KANEOHE BAY, MAKAWAO, MAKAWELI, MAUNALOA, MILILANI, MOUNTAIN VIEW, NAALEHU, NINOLE, OCEAN VIEW, OOKALA, PAAUILO, PAHALA, PAHOA, PAIA, PAPAALOA, PAPAIKOU, PEARL CITY, PEARL HARBOR, PEPEEKEO, PRINCEVILLE, PUUNENE, SCHOFIELD BARRACKS, TRIPLER ARMY MEDICAL CENTER, VOLCANO, WAHIAWA, WAIALUA, WAIANAE, WAIKOLOA, WAILUKU, WAIMANALO, WAIMEA, WAIPAHU, WAKE ISLAND, WHEELER ARMY AIRFIELD