Tennessee Laws on Wage Garnishments, Statute of Limitations on Debt, and Bankruptcy Property Exemptions

WAGE GARNISHMENT EXEMPTION:  Federal law applies

MAXIMUM INTEREST RATE:  Legal: 10%  Judgment: 10%  or contract rate

STATUTE OF LIMITATIONS ON ENFORCEMENT:

Open Account (credit cards)  6 years
Written Contract:  6 years
Domestic Judgment: 10 years
Foreign Judgment: 10 years

BAD CHECK LAW:  Triple damages up to $500, reasonable service charges, attorney's fees and court costs

TENNESSEE BANKRUPTCY PROPERTY EXEMPTIONS (Tennessee Code Annotated):

Cannot use federal exemptions, but can use federal non-bankruptcy exemptions

Real Property: Real property used as residence up to $5,000; $7,500 for joint owners [26-2-301]; real estate life estate, unlimited amount [26-2-302]; a two to 15 year lease, unlimited amount [26-2-303]
Personal Property:  Burial plot, unlimited value, not to exceed one acre, any personal property up to $4,000 [26-2-102]; bible and schoolbooks, pictures and portraits, clothing and storage containers, unlimited amount [26-2-103]; personal injury recoveries, but not for pain and suffering, up to $7,500 and up to $15,000 for all personal injury, wrongful death and crime victims compensation combined [26-2-111(2)(B)]; wrongful death recoveries up to $7,500 and up to $15,000 total for all personal injury, wrongful death and crime victims compensation combined [26-2-111(2)(C)]; lost earnings payments [26-2-111(3)]; implements, books, and tools of trade up to $1,900 [26-2-111(4)]; health aids, unlimited amount [26-2-111(5)]
Insurance / Annuities:  Fraternal society benefits, unlimited amount [56-25-1403]; homeowners' insurance proceeds to $5,000 [26-2-304];  accident, health or disability benefits, unlimited amount [26-2-110]; annuity contract proceeds if payable to dependent [56-7-203]; disability or illness benefits, unlimited amount [26-2-111(1)(C)]
Pensions / Retirement Plans:  Retirement benefits, unlimited amount [26-2-111(1)(D)]; state and local government employees, unlimited amount [26-2-104]; public employees, unlimited amount [8-36-111]; teachers, unlimited amount [49-5-909]
Debt Statutes  > Tennessee
debt
Public Benefits / Entitlements:  Unemployment compensation, unlimited amount [26-2-111(1)(A)]; workers' compensation, unlimited amount [50-6-223];  aid to aged, blind, disabled, and families with dependent children, unlimited amount [71-2-216, 71-3-121, 71-4-117 and 71-4-112]; crime victims' compensation to $5,000 and up to $15,000 for all personal injury, wrongful death and victims' compensation [26-2-111(2)(A) and 29-13-111]; general assistance, unlimited amount [26-2-111(1)(A)]; social security, unlimited amount [26-2-111(1)(A)]; veterans' benefits, unlimited amount [26-2-111(1)(B)]
Wages:  75% of earned, unpaid wages, plus $2.50 per week per child [26-2-106 and 26-2-107]
Miscellaneous:  Alimony and child support if owed for 30 days before filing bankruptcy [26-2-111(1)(E)(F)]; business partnership property, unlimited amount [61-1-124]