Vermont Bankruptcy Laws

Federal filing fee for Chapter 7 bankruptcy. Fee waivers available for qualifying low-income filers.

Federal filing fee for Chapter 13 bankruptcy.

You must complete credit counseling from an approved agency within 180 days before filing and a debtor education course before discharge.

Chapter 7 filers must pass a means test comparing their income to Vermont's median income to determine eligibility.

Protects up to $125,000 of equity in your primary residence (dwelling house, outbuildings, and the land used in connection therewith). This amount is not doubled for married couples filing jointly.

Protects the debtor's interest in one or more motor vehicles up to a combined total of $2,500 in aggregate value.

Protects the debtor's interest in professional or trade books and tools up to $5,000 in aggregate value.

Protects any property up to $400 in value, plus up to $7,000 of unused amounts from the motor vehicle, tools, and certain other exemptions. The maximum wildcard is effectively $7,400.

Vermont filers who have lived in the state for at least 2 years may choose between Vermont state exemptions and federal bankruptcy exemptions, but cannot mix and match from both sets.