WAGE GARNISHMENT EXEMPTION: 75% of earnings above minimum wage or amount necessary to support family
MAXIMUM INTEREST RATE: Legal: 12% Judgment: 12%
STATUTE OF LIMITATIONS ON ENFORCEMENT:
Open Account (credit cards): 6 year
Written Contract: 6 years
Domestic Judgment: 8 years
Foreign Judgment: 8 years
BAD CHECK LAW DAMAGES: Amount of check plus court costs, attorney's fees
BANKRUPTCY PROPERTY EXEMPTIONS (Vermont Statutes Annotated):
The State of Vermont has exempted the property and income below from seizure by the bankruptcy court to pay creditors:
Real Property: Real property or mobile home to $75,000 [27-101]
Personal Property: Animals, appliances, clothing, furnishings, goods, books, crops and musical instruments up to $2,500 total [12-27-2740(5)]; books and tools of trade up to $5,000 [12-2740(2)]; freezer, heating unit, refrigerator, sewing machines, water heater, and stove, unlimited amount [12-2740(8)]; jewelry up to $500, but unlimited amount for wedding ring [12-2740(3) and (4)]; bank deposits up to $700 [12-2740(i)(15)]; health aids, unlimited amount [12-2740(17)]; motor vehicle up to $2,500 [12-2740(1)]; 10 cords of firewood, or 5 tons of coal or 500 gallons of heating oil or 500 gallons of bottled gas [12-2740(9) and (10)]; crops and animals, three swarms of bees up to $5,000, and 10 chickens, 2 goats, 2 horses, 10 sheep, yoke of oxen or steers and enough feed to last through the winter [12-2740(6), (11) and (13)]; farm equipment consisting of two chains, two harnesses, two halters and plow and yoke [12-2740(14)]; lost future earnings, unlimited amount [12-2740(19)(l)]; personal injury recoveries and wrongful death recoveries, unlimited amount [12-2740(19)(F) and (G)]
Insurance / Annuities: Fraternal society benefits, unlimited amount [8-4478]; annuity contract benefits up to $350 per month [8-3709]; group life or health benefits, unlimited amount [8-3708]; life insurance proceeds if beneficiary is not the insured, unlimited amount [8-3706]; supplemental disability benefits, unlimited amount [8-3707]; life insurance proceeds, unlimited amount [12-2740(19)(H)]; life insurance proceeds if policy prohibits proceeds from being used to pay creditors, unlimited amount [8-3705]; health benefits up to $200 per month [8-4086]; disability or illness benefits, amount needed for support [12-2740(19)(C)]; unmatured life insurance contract, unlimited amount [12-274(18)]
Pensions / Retirement Plans: Municipal employees, unlimited amount [24-5066]; IRAs, Keoghs to $10,000 [12-2740(6)]; state employees, unlimited amount [3-476]; teachers, unlimited amount [16-1946]; any pensions, unlimited amount [12-2740(19)(j)]
Public Benefits / Entitlements: Social Security, amount needed for support [12-2740(19)(A)]; unemployment compensation, unlimited amount [21-1367]; crime victims compensation, amount needed for support [12-2740(19)(E); veterans benefits, amount needed for support [12-2740(19)(B)]; workers compensation, unlimited amount [21-681]; aid to aged, blind, disabled and families with dependent children and general assistance, unlimited amount [33-124]
Wages: 75% of earned but unpaid wages, but unlimited amount if debtor received welfare within two months of filing bankruptcy [12-3170]
Miscellaneous: Alimony or child support, amount needed for support [12-2740(19)(D)]; business partnership property, unlimited amount [11-1282]; any property up to $400 [12-2740(7)]
