What Creditors Can't Take in Indiana
Money, home and vehicle exemptions that protect your property from creditors in Indiana.
Short answer: No separate bank account exemption. Up to $450 of intangible personal property, which includes bank deposits and cash, is exempt (effective March 1, 2022). Social Security and veterans benefits remain exempt. IC 34-55-10-2(c)(3); 750 IAC 1-1-1(c); Indiana Small Claims Manual, Notice of Exemption Rights
| Money protected in a bank account | No separate bank account exemption. Up to $450 of intangible personal property, which includes bank deposits and cash, is exempt (effective March 1, 2022). Social Security and veterans benefits remain exempt. The statute's base figure is $300; the Department of Financial Institutions adjusts it every 6 years (IC 34-55-10-2.5). Next adjustment no later than March 1, 2028. |
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| Homestead exemption | Up to $22,750 in real or personal property used as the personal or family residence of the debtor or a dependent (effective March 1, 2022). Joint debtors who own property as tenants by the entirety may each claim it, and entireties property may be exempt from debts owed by only one spouse. Statute (base $15,000): https://iga.in.gov/ic/2026/Title_34/Article_55/Chapter_10.pdf. Adjusted every 6 years by the Department of Financial Institutions; next adjustment no later than March 1, 2028. |
| Vehicle exemption | No separate vehicle exemption. A vehicle can be protected under the exemption for other real estate or tangible personal property, up to $12,100 in total (effective March 1, 2022). Statute base $8,000; adjusted every 6 years; next adjustment no later than March 1, 2028. |
| Bankruptcy exemptions | Indiana has opted out of the federal exemptions. An Indiana debtor in bankruptcy must use Indiana exemptions. Source: IC 34-55-10-1 |
Where to get help in Indiana
- Indiana Attorney General, Consumer Protection Division (collection agency licensing: Indiana Secretary of State)
- File a complaint or claim
More Indiana debt & collections
- Statute of Limitations on Debt in Indiana
- Wage Garnishment in Indiana
- How to Respond to a Debt Collection Lawsuit in Indiana
- All Indiana debt & collections rules
FAQ
How much money in a bank account is protected from creditors in Indiana?
No separate bank account exemption. Up to $450 of intangible personal property, which includes bank deposits and cash, is exempt (effective March 1, 2022). Social Security and veterans benefits remain exempt.
What is the homestead exemption in Indiana?
Up to $22,750 in real or personal property used as the personal or family residence of the debtor or a dependent (effective March 1, 2022). Joint debtors who own property as tenants by the entirety may each claim it, and entireties property may be exempt from debts owed by only one spouse.
Can a creditor take my car in Indiana?
No separate vehicle exemption. A vehicle can be protected under the exemption for other real estate or tangible personal property, up to $12,100 in total (effective March 1, 2022).
Which bankruptcy exemptions can I use in Indiana?
Indiana has opted out of the federal exemptions. An Indiana debtor in bankruptcy must use Indiana exemptions.
General legal information, not legal advice. Laws change and local rules can differ; check the linked official source or talk to a lawyer about your situation.