West Virginia Bankruptcy Exemptions 2023
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Written by Upsolve Team.
Reviewed September 29, 2021
It's important to understand what the exemptions for West Virginia are and how they're most often used in a bankruptcy case.
How Do Exemptions Work?
When you file for Chapter 7 bankruptcy, one of the biggest questions is whether or not you will be able to keep your property.
That depends on which property exemptions you can use on your bankruptcy forms. They are called exemptions because they “exempt” -- or “excuse” -- certain property from being taken. In most cases, exemptions protect most day-to-day items that you own, unless you have expensive property like a house or a car.
Certain exemptions protect entire categories of property like retirements accounts, regardless of value. Other exemptions only protect specific property like a vehicle up to a certain value.
If you're looking for a deep understanding of bankruptcy exemptions, read this article.
Does West Virginia allow federal exemptions?
West Virginia does not recognize the federal exemptions.
Every state has its own set of property exemptions. And some states also allow you choose between their exemptions and a set of federal bankruptcy exemptions. When they do, they will generally let you to choose the system that is the best fit for you. Although some states allow you to use the federal bankruptcy exemptions, others do not.
West Virginia Exemptions
W. Va. Code § 18-7A-30
Most people use W. Va. Code § 18-7A-30 to cover teachers pension. For single debtors filing, it has no coverage limit.
W. Va. Code § 23-4-18
Most people use W. Va. Code § 23-4-18 to cover workers' compensation. For single debtors filing, it has no coverage limit.
W. Va. Code § 33-23-21
Most people use W. Va. Code § 33-23-21 to cover fraternal benefits. For single debtors filing, it has no coverage limit.
W. Va. Code § 33-6-28
Most people use W. Va. Code § 33-6-28 to cover life insurance (group). For single debtors filing, it has no coverage limit.
W. Va. Code § 38-10-4 (b)
Most people use W. Va. Code § 38-10-4 (b) to cover motor vehicle (one). For single debtors filing, it has a coverage limit of $7,500. This exemption has a limit to the number of assets it can cover.
W. Va. Code § 38-10-4 (c)
Most people use W. Va. Code § 38-10-4 (c) to cover household goods and furnishings. books, antiques, art, collectibles. hobby equipment. wearing apparel. animals. crops.. For single debtors filing, it has a coverage limit of $8,000.
W. Va. Code § 38-10-4 (d)
Most people use W. Va. Code § 38-10-4 (d) to cover jewelry. For single debtors filing, it has a coverage limit of $1,000.
W. Va. Code § 38-10-4 (f)
Most people use W. Va. Code § 38-10-4 (f) to cover office equipment & supplies. machinery, fixtures, equipment & supplies. For single debtors filing, it has a coverage limit of $1,500.
W. Va. Code § 38-10-4 (g)
Most people use W. Va. Code § 38-10-4 (g) to cover life insurance (unmatured). For single debtors filing, it has no coverage limit.
W. Va. Code § 38-10-4 (i)
Most people use W. Va. Code § 38-10-4 (i) to cover health aids. For single debtors filing, it has no coverage limit.
W. Va. Code § 38-10-4 (j)(1)
Most people use W. Va. Code § 38-10-4 (j)(1) to cover public assistance. For single debtors filing, it has no coverage limit.
W. Va. Code § 38-10-4 (j)(2)
Most people use W. Va. Code § 38-10-4 (j)(2) to cover veterans' benefit. For single debtors filing, it has no coverage limit.
W. Va. Code § 38-10-4 (j)(3)
Most people use W. Va. Code § 38-10-4 (j)(3) to cover health or disability benefits. For single debtors filing, it has no coverage limit.
W. Va. Code § 38-10-4 (j)(4)
Most people use W. Va. Code § 38-10-4 (j)(4) to cover alimony or maintenance support. For single debtors filing, it has no coverage limit.
W. Va. Code § 38-10-4 (j)(5)
Most people use W. Va. Code § 38-10-4 (j)(5) to cover erisa (employee retirement account). private pension plans. annuities. For single debtors filing, it has no coverage limit.
W. Va. Code § 38-10-4 (j)(5); 11 U.S.C. § 522(b)(3)(C)(n)
Most people use W. Va. Code § 38-10-4 (j)(5); 11 U.S.C. § 522(b)(3)(C)(n) to cover ira & roth ira. For single debtors filing, it has a coverage limit of $1,245,475.
W. Va. Code § 38-10-4 (k)(1)
Most people use W. Va. Code § 38-10-4 (k)(1) to cover crime victims' compensation. For single debtors filing, it has no coverage limit.
W. Va. Code § 38-10-4 (k)(2)
Most people use W. Va. Code § 38-10-4 (k)(2) to cover wrongful death awards. For single debtors filing, it has no coverage limit.
W. Va. Code § 38-10-4 (k)(3)
Most people use W. Va. Code § 38-10-4 (k)(3) to cover life insurance (for support). For single debtors filing, it has no coverage limit.
W. Va. Code § 38-10-4 (k)(4)
Most people use W. Va. Code § 38-10-4 (k)(4) to cover personal injury settlement. For single debtors filing, it has a coverage limit of $15,000.
W. Va. Code § 38-10-4 (k)(5)
Most people use W. Va. Code § 38-10-4 (k)(5) to cover lost future earnings. For single debtors filing, it has no coverage limit.
W. Va. Code § 38-10-4 (k)(6)
Most people use W. Va. Code § 38-10-4 (k)(6) to cover tuition trust fund. For single debtors filing, it has no coverage limit.
W. Va. Code § 38-5A-3
Most people use W. Va. Code § 38-5A-3 to cover unpaid wages - 80% or 30 times the federal min hourly wage per week. For single debtors filing, it has no coverage limit.
W. Va. Code § 38-8-14
Most people use W. Va. Code § 38-8-14 to cover unripe crops. For single debtors filing, it has no coverage limit.
W. Va. Code § 47B-5-4
Most people use W. Va. Code § 47B-5-4 to cover partnerships. For single debtors filing, it has no coverage limit.
W. Va. Code § 5-10-46
Most people use W. Va. Code § 5-10-46 to cover public employees. For single debtors filing, it has no coverage limit.
W. Va. Code § 51-9-14
Most people use W. Va. Code § 51-9-14 to cover judges' retirement benefits. For single debtors filing, it has no coverage limit.
W. Va. Code § 9-5-1
Most people use W. Va. Code § 9-5-1 to cover blind aged disabled assistance. For single debtors filing, it has no coverage limit.
11 U.S.C. § 522(b)(3)(C)
Most people use 11 U.S.C. § 522(b)(3)(C) to cover tax exempt retirement accounts. For single debtors filing, it has no coverage limit.
5 U.S.C. §§ 8437(e)(g), 11 U.S.C. § 541(c)(2)
Most people use 5 U.S.C. §§ 8437(e)(g), 11 U.S.C. § 541(c)(2) to cover thrift savings plan. For single debtors filing, it has no coverage limit.
W. Va. Code § 38-10-4 (e)
Most people use W. Va. Code § 38-10-4 (e) to cover wildcard. For single debtors filing, it has a coverage limit of $25,800.
