What Creditors Can't Take in Iowa
Money, home and vehicle exemptions that protect your property from creditors in Iowa.
Short answer: Up to $1,000 in total in cash, bank deposits, credit union accounts or any other personal property is exempt. Iowa Code § 627.6(14)
| Money protected in a bank account | Up to $1,000 in total in cash, bank deposits, credit union accounts or any other personal property is exempt. Source: Iowa Code § 627.6(14) |
|---|---|
| Homestead exemption | No dollar limit. The homestead is exempt from judicial sale, limited by size: up to one-half acre within a city plat, or up to 40 acres elsewhere. One homestead per household. § 561.2: https://www.legis.iowa.gov/docs/code/561.2.pdf. Some debts (such as purchase-money debts) can reach the homestead under other sections. Source: Iowa Code §§ 561.16, 561.2 |
| Vehicle exemption | The debtor's interest in one motor vehicle, up to $7,000 in value. Source: Iowa Code § 627.6(9) |
| Bankruptcy exemptions | Iowa has opted out of the federal exemptions. Iowa debtors must use Iowa exemptions in bankruptcy. Source: Iowa Code § 627.10 |
Where to get help in Iowa
- Iowa Attorney General, Consumer Protection Division (administers the Iowa Consumer Credit Code, including debt collector notification)
- File a complaint or claim
More Iowa debt & collections
- Statute of Limitations on Debt in Iowa
- Wage Garnishment in Iowa
- How to Respond to a Debt Collection Lawsuit in Iowa
- All Iowa debt & collections rules
FAQ
How much money in a bank account is protected from creditors in Iowa?
Up to $1,000 in total in cash, bank deposits, credit union accounts or any other personal property is exempt.
What is the homestead exemption in Iowa?
No dollar limit. The homestead is exempt from judicial sale, limited by size: up to one-half acre within a city plat, or up to 40 acres elsewhere. One homestead per household.
Can a creditor take my car in Iowa?
The debtor's interest in one motor vehicle, up to $7,000 in value.
Which bankruptcy exemptions can I use in Iowa?
Iowa has opted out of the federal exemptions. Iowa debtors must use Iowa exemptions in bankruptcy.
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.