What are the Hawaii bankruptcy exemptions?
Hawaii law protects all or a portion of your property from being seized by creditors or the bankruptcy trustee in a Chapter 7 bankruptcy. In a Chapter 13 bankruptcy, you are generally allowed to keep all of your assets and property. Certain exceptions may apply, so it’s wise to consult with a Hawaii bankruptcy attorney to find which of your assets will be protected in a bankruptcy filed in Hawaii. In general, the major Hawaii bankruptcy exemptions include:
|GENERAL HAWAII EXEMPTIONS|
|Real Estate (the Homestead Exemption)
Up to $30,000 of equity in real or personal property can be protected if you are at least 65 years old and head of family; $20,000 for all other debtors.
Up to $2,575 of equity in one motor vehicle can be protected.
100 percent of necessary household furnishings and appliances, books and wearing apparel personally used by a debtor or the debtor’s family residing with the debtor; jewelry, watches, and items of personal adornment up to an aggregate cash value not exceeding $1,000; and 100 percent of all tools, equipment, and furnishings used in a trade, business, or profession.In Hawaii, you have the choice of electing the federal exemption statutes rather than the Hawaii state exemptions. Consult with a Hawaii bankruptcy attorney for more details.
|View the complete list of Hawaii bankruptcy exemptions|
Please remember that this page provides general information only, and is not intended to provide legal advice. The information is not a substitute for the advice of a qualified bankruptcy attorney. If you need legal assistance, consult an attorney.
Which state’s exemption laws apply in your bankruptcy?
Generally, the laws of the state in which you lived for the 730 days (2 years) prior to filing a bankruptcy petition will apply in your bankruptcy.
If you have not lived in the same state for the 2 years immediately prior to filing your bankruptcy petition, the laws of the state in which you lived for the majority of the 180-day period preceding the 2-year period will likely apply.
If application of the preceding general rules renders you ineligible for exemptions under any state’s laws, you may be allowed to choose the federal exemptions applicable in your bankruptcy.
Is Hawaii a community property state?
No, Hawaii is not a community property state. Because it is not a community property state, you will be responsible for your spouse’s debts only if you voluntarily assumed those debts by, for example, co-signing on a loan given to your spouse. In a non-community property state, one spouse can file for bankruptcy and be eligible to eliminate all of their unsecured debts without the involvement of the other spouse.
How did your senator vote on the new bankruptcy laws?
Following years of intense lobbying by creditors, Congress passed the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA). How did your Senators vote on these largely pro-creditor provisions?
Akaka (D-HI) — YEA
Inouye (D-HI) — YEA
Hawaii Bankruptcy Court Locations:
United States Bankruptcy Court
District of Hawaii
1132 Bishop Street, Suite 250-L
Honolulu, HI 96813 Phone
Note: You may not have to actually go to one of the above bankruptcy courts. Trustees often conduct your meeting at a local venue.
Although bankruptcy is federal law, the bankruptcy courts in each jurisdiction have local rules that must be followed. A local bankruptcy attorney will be familiar with the specific rules in your area.
Hawaii Bankruptcy Attorney Locations:
Hawaii bankruptcy attorney
Honolulu, Hawaii bankruptcy attorney
Bankruptcy lawyers in Urban Honolulu CDP, Hawaii
$22234.0, local retail sales per capita surpass normal for the country. The median rental figure is $1491.0 outshining the nationwide average. The most common house cost is $683000.0, (exceeding average for the US).
AGE AND SEX
People over 65 consist an enormous 20.0% of the residents, hinting Urban Honolulu CDP is an aged area. Children below 18 embody 17.1% of the local inhabitants. The birth rate in Urban Honolulu CDP is beneath the national average at 5.2%.
Individuals who didn't graduate from elementary education are quite likely to avail themselves of bankruptcy services. In Urban Honolulu CDP, 11.0% qualify for this category. Property owners (44.7%) and those who achieved a degree are less probable to avail themselves of bankruptcy practitioners. In Urban Honolulu CDP, Hawaii 6.1% of people are qualified not able bodied and consequently are entitled to federal health support. 4.8 percent of local inhabitants have no a health plan and this is better than the United States norms.
The Population is a little biased towards female in gender with women in Urban Honolulu CDP, Hawaii comprising 50.2 percent of the local inhabitants. The most recent population number for Urban Honolulu CDP in the state of Hawaii is 345,064 rising 2.2% compared with 2010.
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