Wildcard Exemption

Definition

An exemption that can be used to protect any property that is not otherwise protected.


Learn more about "Wildcard Exemption"


The federal bankruptcy exemptions include a wildcard exemption as do many (but not all) of the states. The wildcard is usually limited by a certain dollar amount and in some cases can be increased if no homestead exemption is claimed.

The following opt-out states provide a wildcard exemption (amounts current as of 10/29/2020):

StateWildcard Exemption Amount
Alabama$7,500
California$30,835
Delaware$25,000
Florida$4,000
Georgia$4,000
Idaho$800
Illinois$4,000
Indiana$10,250
Iowa$1,000
Maine$400
Maryland$11,000
Mississippi$10,000
Missouri$600+ (based on family size)
Nebraska$5,000
Nevada$10,000
North Carolina$5,500
North Dakota$10,000
Ohio$1,325
South Carolina$5,900
South Dakota$5,000
Tennessee$10,000
Virginia$5,000
West Virginia$25,800

Upsolve is a 501(c)(3) nonprofit that started in 2016. Our mission is to help low-income families who cannot afford lawyers file bankruptcy for free, using an online web app. Spun out of Harvard Law School, our team includes lawyers, engineers, and judges. We have world-class funders that include the U.S. government, former Google CEO Eric Schmidt, and leading foundations. It's one of the greatest civil rights injustices of our time that low-income families can’t access their basic rights when they can’t afford to pay for help. Combining direct services and advocacy, we’re fighting this injustice.

To learn more, read why we started Upsolve in 2016, our reviews from past users, and our press coverage from places like the New York Times and Wall Street Journal.

Close

Considering Bankruptcy?

Try our 100% free tool that thousands of low-income families across the country have used to file bankruptcy themselves. We are funded by Harvard University, will never ask you for a credit card, and you can stop at any time.

Get Your Fresh Start