Rhode Island Bankruptcy Laws

Locate a Rhode Island Bankruptcy Attorney

If you live in the state of Rhode Island and are contemplating filing bankruptcy a Rhode Island bankruptcy attorney will cover all of your options with you.

See, with the guidance of a Rhode Island bankruptcy attorney, whether filing Chapter 7 or Chapter 13 bankruptcy is the right path for you.

For a meeting with a local Rhode Island bankruptcy attorney simply fill out the form on this page

Bankruptcy Law and Rhode Island Exemptions

During your first meeting with your Rhode Island bankruptcy attorney you will go over all of the key differences from Chapter 7 and Chapter 13 bankruptcy.

In the course of this meeting your Rhode Island bankruptcy attorney will ask you many personal finance questions or provide you with a profile sheet to list certain financial details. The answers you disclose will help you and your attorney in deciding if filing Chapter 7 or Chapter 13 bankruptcy is the correct route for you.

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

Besides, in most of Chapter 7 bankruptcy cases, the person filing bankruptcy does not own non-exempt property, so this would not apply to a large amount of filings. If you do not own much property or have many assets Chapter 7 bankruptcy may be the best choice, since you are allowed to discharge most unsecured debt.

Ahead of filing Chapter 7 bankruptcy please go over your finances with a Rhode Island bankruptcy attorney to figure out exactly how much property may be exempt from liquidation.

Rhode Island State Exemptions

State and federal bankruptcy exemptions available in Rhode Island.

Homestead

$300,000 for your home.

Wages

1. $50 of the debtor’s wages.
2. 100 percent of the wages of the debtor’s spouse and children.
3. 100 percent of wages are exempt if you work for a charitable organization or received state or federal relief within the year prior to filing.

Note:Filers may use federal bankruptcy exemptions and exempt up to 75 percent of their wages.

Automobiles

Up to $12,000 in total value of all vehicles owned.

Personal Property

1. 100 percent of clothing.
2. $1,500 in used in your occupation and 100 percent of your professional library.
3. Up to $9,600 in furniture and family stores.
4. $300 in books.
5. 1 burial plot.

Chapter 13 Bankruptcy is also called “reorganization”. Persons filing Chapter 13 may own more property and by filing Chapter 13 may also keep most of their assets.

In Chapter 13 bankruptcy, the filer prepares a proposal for a repayment plan for a term of 3 to 5 years, which must be approved by a bankruptcy court. This agreement allows the debtor to repay outstanding bills.

Speak With a Rhode Island Bankruptcy Attorney Today

Have you ever contemplated filing bankruptcy in Rhode Island but have not because you did not know where to start or felt the process was too detailed for you?

To go over all concerns about bankruptcy laws, a Rhode Island bankruptcy attorney will be able to walk you through the bankruptcy process in common sense terms. When you meet with a Rhode Island bankruptcy attorney you will also be able to have many of your questions and concerns answered in the first visit.

Get rid of the hassle of finding a Rhode Island bankruptcy attorney your self. Just fill out our bankruptcy questionnaire on this page and we will direct you to a Rhode Island 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.

Rhode Island Bankruptcy Attorneys are located in these areas:

ADAMSVILLE, ALBION, ASHAWAY, BARRINGTON, BLOCK ISLAND, BRADFORD, BRISTOL, BROWN STATION, BURRILLVILLE, CAROLINA, CENTRAL FALLS, CHARLESTOWN, CHEPACHET, CLAYVILLE, COVENTRY, CRANSTON, CUMBERLAND, EAST GREENWICH, EAST KILLINGLY, EAST PROVIDENCE, EXETER, FORESTDALE, FOSTER, FRIAR STATION, GLOCESTER, GREENE, GREENVILLE, HARRISVILLE, HOPE, HOPE VALLEY, HOPKINTON, JAMESTOWN, JOHNSTON, KENYON, KINGSTON, LINCOLN, LITTLE COMPTON, MANVILLE, MAPLEVILLE, MIDDLETOWN, N KINGSTOWN, NARRAGANSETT, NEWPORT, NORTH KINGSTOWN, NORTH PROVIDENCE, NORTH SCITUATE, NORTH SMITHFIELD, OAKLAND, PASCOAG, PAWTUCKET, PEACE DALE, PORTSMOUTH, PROVIDENCE, RIVERSIDE, RUMFORD, SAUNDERSTOWN, SHANNOCK, SLOCUM, SMITHFIELD, TIVERTON, WAKEFIELD, WARREN, WARWICK, WEST GREENWICH, WEST KINGSTON, WEST WARWICK, WESTERLY, WOOD RIVER JUNCTION, WOONSOCKET, WYOMING

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