Vermont Bankruptcy Laws

Find a Vermont Bankruptcy Attorney

If you live in Vermont and are considering filing bankruptcy a Vermont bankruptcy attorney will discuss all of your options with you.

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

For a meeting with a local Vermont bankruptcy attorney simply fill out the form on this page.

Bankruptcy Law and Vermont Exemptions

In your first interview with your Vermont bankruptcy attorney you will go over all of the main differences from Chapter 7 and Chapter 13 bankruptcy.

During this interview your Vermont attorney will ask you many personal finance questions or provide you with a profile sheet to list specific financial details. The answers you give will help you and your attorney in deciding if filing Chapter 7 or Chapter 13 bankruptcy is the appropriate step 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).

However, in most of Chapter 7 bankruptcy cases, the person filing bankruptcy does not own non-exempt property, so this would not apply to most 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.

Prior to filing Chapter 7 bankruptcy please review your finances with a Vermont bankruptcy attorney to figure out exactly how much property may be exempt from liquidation.

Vermont State Exemptions

Homestead

A residence worth up to $75,000.

Wages

75 percent of your wages.

Automobiles

One motor vehicle worth up to $2,500.

Automobiles

Motor vehicles up to $2,500.

Personal Property

1. Up to $5,000 worth of professional books and trade tools.
2. A wedding ring up to $500 worth of other jewelry.
3. Up to $2,500 worth of furniture, goods, appliances, books, clothing, animals, crops and musical instruments.
4. Up to $5,000 worth of growing crops.
5. Up to $400 worth of other miscellaneous property.
6. One cooking stove, heating appliances, refrigerator and freezer, water heater and sewing machine.
7. $700 worth of bank deposits.
8. Up to $7,000 of unused exemptions.

Chapter 13 Bankruptcy is also known as “reorganization”. Those 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 Vermont Bankruptcy Attorney Today

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

To lessen your anxiety about bankruptcy laws, a Vermont bankruptcy attorney will be able to help you through the bankruptcy process in common sense terms. When you meet with a Vermont bankruptcy attorney you will also be able to have many of your questions and concerns answered in the first consultation.

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

Vermont Bankruptcy Attorneys are located in these localities:

ADAMANT, ALBANY, ARLINGTON, ASCUTNEY, AVERILL, BARNARD, BARNET, BARRE, BARTON, BEEBE PLAIN, BEECHER FALLS, BELLOWS FALLS, BELMONT, BELVIDERE CENTER, BENNINGTON, BENSON, BETHEL, BOMOSEEN, BONDVILLE, BRADFORD, BRANDON, BRATTLEBORO, BRIDGEWATER, BRIDGEWATER CORNERS, BRIDPORT, BRISTOL, BROOKFIELD, BROWNSVILLE, CABOT, CALAIS, CAMBRIDGEPORT, CANAAN, CASTLETON, CAVENDISH, CENTER RUTLAND, CHELSEA, CHESTER, CHITTENDEN, CONCORD, CORINTH, COVENTRY, CRAFTSBURY, CRAFTSBURY COMMON, CUTTINGSVILLE, DANBY, DANVILLE, DEPT MOTOR VEHICLES, DERBY, DERBY LINE, DORSET, E ST JOHNSBRY, EAST ARLINGTON, EAST BARRE, EAST BURKE, EAST CALAIS, EAST CHARLESTON, EAST CORINTH, EAST DORSET, EAST DOVER, EAST HARDWICK, EAST HAVEN, EAST MIDDLEBURY, EAST MONTPELIER, EAST POULTNEY, EAST RANDOLPH, EAST RYEGATE, EAST THETFORD, EAST WALLINGFORD, EDEN, EDEN MILLS, FAIR HAVEN, FAIRLEE, FERRISBURGH, FLORENCE, FOREST DALE, GAYSVILLE, GILMAN, GLOVER, GRAFTON, GRANBY, GRANITEVILLE, GRANVILLE, GREENSBORO, GREENSBORO BEND, GROTON, GROUT, GUILDHALL, HANCOCK, HARDWICK, HARTFORD, HARTLAND, HARTLAND CORS, HYDE PARK, HYDEVILLE, IRASBURG, ISLAND POND, JACKSONVILLE, JAMAICA, JEFFERSONVILLE, JOHNSON, KILLINGTON, LAKE ELMORE, LONDONDERRY, LOWELL, LOWER WATERFORD, LWR WATERFORD, LUDLOW, LUNENBURG, LYNDON, LYNDON CENTER, LYNDONVILLE, MANCHESTER, MANCHESTER CENTER, MARLBORO, MARSHFIELD, MC INDOE FALLS, MIDDLEBURY, MIDDLETOWN SPRINGS, MONKTON, MONTPELIER, MORETOWN, MORGAN, MORRISVILLE, MORSES MILLS, MOSCOW, MOUNT HOLLY, N HYDE PARK, N THETFORD, NEW HAVEN, NEWBURY, NEWFANE, NEWPORT, NEWPORT CENTER, NORTH BENNINGTON, NORTH CLARENDON, NORTH CONCORD, NORTH FERRISBURGH, NORTH HARTLAND, NORTH MONTPELIER, NORTH POMFRET, NORTH POWNAL, NORTH SPRINGFIELD, NORTH TROY, NORTHFIELD, NORTHFIELD FALLS, NORTON, NORWICH, ORLEANS, ORWELL, PAWLET, PEACHAM, PERKINSVILLE, PERU, PITTSFIELD, PITTSFORD, PLAINFIELD, PLYMOUTH, POST MILLS, POULTNEY, POWNAL, PROCTOR, PROCTORSVILLE, PUTNEY, QUECHEE, RANDOLPH, RANDOLPH CENTER, READING, READSBORO, RIPTON, ROCHESTER, ROXBURY, RUPERT, RUTLAND, SAINT JOHNSBURY, SAINT JOHNSBURY CENTER, ST JHNSBRY CT, SALISBURY, SAXTONS RIVER, SHAFTSBURY, SHARON, SHEFFIELD, SHOREHAM, SOUTH BARRE, SOUTH LONDONDERRY, SOUTH NEWFANE, SOUTH POMFRET, SOUTH