Idaho Bankruptcy Laws

Thinking about Filing Bankruptcy in Idaho?

If Idaho is your primary residence and are considering filing for bankruptcy an Idaho bankruptcy attorney will go over all of your options.

Learn more, with the guidance of an Idaho bankruptcy attorney, whether filing Chapter 7 or Chapter 13 bankruptcy is right for you.

For a consultation with a local Idaho bankruptcy attorney simply fill out the form on this page.

Fill out our 10-second application form and have one of our attorneys contact you!

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Idaho Bankruptcy Law and State Exemptions

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

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

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

In most Chapter 7 bankruptcy cases the individual 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 option since you would be allowed to discharge most of your unsecured debt.

Before you file Chapter 7 bankruptcy please discuss your situation with an Idaho bankruptcy attorney to determine exactly how much property may be exempt from liquidation.

Idaho State Exemptions

Homestead

Up to $1,000 for house, land, mobile home and improvements.

Wages

75 percent of your wages.

Wild card

Any tangible property up to a maximum of $800.

Automobiles

$5,000 for an automobile.

Personal Property

1. $1,000 for jewelry.
2. $1,500 for implements, professional books and tools of the trade.
3. $500 per item, not to exceed a total of $5,000 for: household furnishings, goods, appliances, clothes, animals, books, musical instruments, family portraits and heirlooms.
4. Certain health aids may be exempt without limitation.

Chapter 13 Bankruptcy is known as “reorganization”. Persons filing Chapter 13 may own more property and by filing Chapter 13 may also keep the majority of their assets.

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

Speak With a Idaho Bankruptcy Attorney Today

If you have contemplated filing bankruptcy in Idaho you may not know where to begin or simply feel overwhelmed by the state specific bankruptcy laws.

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

We take the complexity out of finding a good Idaho bankruptcy attorney. Just complete our free bankruptcy questionnaire on this page and we will connect you with an Idaho 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.

Idaho bankruptcy attorneys are available in these localities:

ABERDEEN, ALBERTSONS, ALBION, ALMO, AMERICAN FALLS, ARBON, ARCO, ARIMO, ASHTON, ATOMIC CITY, BANCROFT, BASALT, BELLEVUE, BERN, BIG SPRINGS, BLACKFOOT, BLISS, BLOOMINGTON, BOISE, BOVILL, BUHL, BURLEY, BYU-IDAHO, CALDWELL, CAREY, CASTLEFORD, CHESTER, CLIFTON, CONDA, CORRAL, CSI, DAYTON, DEARY, DECLO, DIETRICH, DINGLE, DOWNEY, DRIGGS, DUBOIS, EAGLE, EDEN, FAIRFIELD, FELT, FILER, FIRTH, FISH HAVEN, FORT HALL, FRANKLIN, FREEDOM, GARDEN CITY, GENESEE, GENEVA, GEORGETOWN, GOODING, GRACE, GREENLEAF, HAGERMAN, HAILEY, HAMER, HANSEN, HARVARD, HAZELTON, HEYBURN, HILL CITY, HOLBROOK, HOWE, HUSTON, IDAHO FALLS, IDAHO STATE UNIV, INKOM, IONA, IRWIN, ISLAND PARK, JEROME, JULIAETTA, KENDRICK, KETCHUM, KIMBERLY, KUNA, LAVA HOT SPRINGS, LEWISVILLE, MALAD CITY, MALTA, MCCAMMON, MELBA, MENAN, MERIDIAN, MIDDLETON, MINIDOKA, MONTEVIEW, MONTPELIER, MOORE, MORELAND, MOSCOW, MURTAUGH, NAMPA, NEWDALE, NOTUS, OAKLEY, PARIS, PARKER, PARMA, PAUL, PICABO, PINGREE, POCATELLO, POTLATCH, PRESTON, PRINCETON, REXBURG, RICHFIELD, RIGBY, RIRIE, ROBERTS, ROCKLAND, ROGERSON, RUPERT, SAINT ANTHONY, SAINT CHARLES, SHELLEY, SHOSHONE, SMOOT, SODA SPRINGS, SPENCER, SPRINGFIELD, STAR, SUGAR CITY, SUN VALLEY, SWAN VALLEY, SWANLAKE, TERRETON, TETON, TETONIA, TROY, TWIN FALLS, UCON, VICTOR, VIOLA, WAYAN, WENDELL, WESTON, WILDER