WAGE GARNISHMENTS: Federal law applies MAXIMUM INTEREST RATE: Legal: 12% Judgment: 10.875% plus base rate STATUTE OF LIMITATIONS ON ENFORCEMENT: Open Account (credit card): 4 years Oral Contract: 4 years Written Contract: 5 years Domestic Judgment: 5 years (renewable) Foreign Judgment: 6 years (renewable) BAD CHECK LAW DAMAGES: Triple amount of check up to $500 over check amount BANKRUPTCY PROPERTY EXEMPTIONS (Idaho Code): Cannot claim federal exemptions, but can claim federal non-bankruptcy exemptions The State of Idaho exempts the property and income below from seizure by the bankruptcy court to pay creditors: Real Estate: Real property or mobile home used a residence up to $50,000, proceeds from sale are exempt for six months (must record homestead exemption) [55-1004 and 55-1113] Personal property: Appliances, books, clothing, family portraits, one firearm, musical instruments, pets, furnishings and sentimental heirlooms, up to $500 per item and up to $4,000 total [1-605(1)]; building materials, unlimited amount [45-514]; jewelry up to $250 [11-605(2)]; motor vehicle up to $1,500 [11-605(3)]; arms, uniforms and equipment required for peace officer, national guard or military personnel, unlimited amount [1-605(5)]; health aids, unlimited amount [11-603(2)]; burial plot, unlimited amount [11-603(1)]; up to 50 acres of crops valued up to $1,000 [11-605(6)]; implements, books and tools of trade up to $1,000 [11-605(3)]; personal injury recoveries, unlimited amount [11-604(1)(c)]; wrongful death recoveries, unlimited amount [11-604(1)(c)]; proceeds for damaged exempt property within last three months up to amount of exemption [11-606]; water rights up to 160 inches [11-605(6)] Insurance / Annuities: Annuity contract proceeds to $350 per month [41-1836]; death or disability benefits, unlimited amount [11-604(1)(a) and 41-1834]; fraternal society benefits, unlimited amount [41-3218]; homeowners' insurance proceeds up to amount of real estate exemption [55-1008]; group life insurance benefits, unlimited amount [41-1835]; life insurance proceeds if policy prohibits proceeds from being used to pay creditors, unlimited amount [41-1930]; life insurance proceeds for beneficiary other than the insured, unlimited amount [11-604(d) and 41-1833]; medical, surgical or hospital care benefits, unlimited amount [11-603(5)] Pensions / Retirement Plans: Retirement benefits, unlimited amount [55-1011]; public employees, unlimited amount [59-1317]; police officers, unlimited amount [50-1517]; firefighters, unlimited amount [72-1422] Public Benefits / Entitlements: Veterans' benefits, unlimited amount [11-603(3)]; workers' compensation, unlimited amount [72-802]; aid to blind, aged, or disabled and families with dependent children [56-223]; any type of government assistance, unlimited amount [11-603(4)]; general assistance, unlimited amount [56-223]; social security; unlimited amount [11-603(3)]; unemployment compensation, unlimited amount [11-603(6)] Wages: 75% of earned but unpaid wages or pension payments [11-207] Miscellaneous: Alimony or child support, amount needed for support [11-604(1)(b)]; motor vehicle financial responsibility deposits [49-1216]; liquor licenses, unlimited amount [23-514]; business partnership property, unlimited amount [53-325] Credit Kit -- Improve your credit rating and save $200+ on monthly bills Debt Kit -- Settle unsecured debts for less than half of amount owed |
Debt > State Statutes > Idaho |
Debt > State Statutes > Idaho |
Debt and Bankruptcy Laws -- Idaho |
WAGE GARNISHMENTS: Federal law applies MAXIMUM INTEREST RATE: Legal: 12% Judgment: 10.875% plus base rate STATUTE OF LIMITATIONS ON ENFORCEMENT: Open Account (credit card): 4 years Oral Contract: 4 years Written Contract: 5 years Domestic Judgment: 5 years (renewable) Foreign Judgment: 6 years (renewable) BAD CHECK LAW DAMAGES: Triple amount of check up to $500 over check amount BANKRUPTCY PROPERTY EXEMPTIONS (Idaho Code): Cannot claim federal exemptions, but can claim federal non-bankruptcy exemptions The State of Idaho exempts the property and income below from seizure by the bankruptcy court to pay creditors: Real Estate: Real property or mobile home used a residence up to $50,000, proceeds from sale are exempt for six months (must record homestead exemption) [55-1004 and 55-1113] Personal property: Appliances, books, clothing, family portraits, one firearm, musical instruments, pets, furnishings and sentimental heirlooms, up to $500 per item and up to $4,000 total [1-605(1)]; building materials, unlimited amount [45-514]; jewelry up to $250 [11-605(2)]; motor vehicle up to $1,500 [11-605(3)]; arms, uniforms and equipment required for peace officer, national guard or military personnel, unlimited amount [1-605(5)]; health aids, unlimited amount [11-603(2)]; burial plot, unlimited amount [11-603(1)]; up to 50 acres of crops valued up to $1,000 [11-605(6)]; implements, books and tools of trade up to $1,000 [11-605(3)]; personal injury recoveries, unlimited amount [11-604(1)(c)]; wrongful death recoveries, unlimited amount [11-604(1)(c)]; proceeds for damaged exempt property within last three months up to amount of exemption [11-606]; water rights up to 160 inches [11-605(6)] Insurance / Annuities: Annuity contract proceeds to $350 per month [41-1836]; death or disability benefits, unlimited amount [11-604(1)(a) and 41-1834]; fraternal society benefits, unlimited amount [41-3218]; homeowners' insurance proceeds up to amount of real estate exemption [55-1008]; group life insurance benefits, unlimited amount [41-1835]; life insurance proceeds if policy prohibits proceeds from being used to pay creditors, unlimited amount [41-1930]; life insurance proceeds for beneficiary other than the insured, unlimited amount [11-604(d) and 41-1833]; medical, surgical or hospital care benefits, unlimited amount [11-603(5)] Pensions / Retirement Plans: Retirement benefits, unlimited amount [55-1011]; public employees, unlimited amount [59-1317]; police officers, unlimited amount [50-1517]; firefighters, unlimited amount [72-1422] Public Benefits / Entitlements: Veterans' benefits, unlimited amount [11-603(3)]; workers' compensation, unlimited amount [72-802]; aid to blind, aged, or disabled and families with dependent children [56-223]; any type of government assistance, unlimited amount [11-603(4)]; general assistance, unlimited amount [56-223]; social security; unlimited amount [11-603(3)]; unemployment compensation, unlimited amount [11-603(6)] Wages: 75% of earned but unpaid wages or pension payments [11-207] Miscellaneous: Alimony or child support, amount needed for support [11-604(1)(b)]; motor vehicle financial responsibility deposits [49-1216]; liquor licenses, unlimited amount [23-514]; business partnership property, unlimited amount [53-325] Credit Kit -- Improve your credit rating and save $200+ on monthly bills Debt Kit -- Settle unsecured debts for less than half of amount owed |
