What Creditors Can't Take in Tennessee
Money, home and vehicle exemptions that protect your property from creditors in Tennessee.
Short answer: No separate bank account exemption. A Tennessee resident may protect up to $10,000 of equity in personal property of the debtor's choosing, which can include money in a bank account. T.C.A. 26-2-103(a)
| Money protected in a bank account | No separate bank account exemption. A Tennessee resident may protect up to $10,000 of equity in personal property of the debtor's choosing, which can include money in a bank account. Public mirror (FindLaw, marked current as of Jan. 2, 2024). Source: T.C.A. 26-2-103(a) |
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| Homestead exemption | Up to $35,000 in real property used as the principal residence of the debtor, spouse or dependent; joint owners together up to $52,500. The exemption does not apply against property taxes, purchase-money debt for the home, or a debt secured by the home where the exemption was waived in writing. Public mirror (FindLaw, marked current as of Jan. 2, 2024). Higher amounts for debtors 62 and older or with minor children are in later subsections not read here. Source: T.C.A. 26-2-301(a), (c) |
| Vehicle exemption | No separate motor vehicle exemption; a vehicle can be protected under the $10,000 personal property exemption. Public mirror (FindLaw). Source: T.C.A. 26-2-103(a) |
| Bankruptcy exemptions | Tennessee has opted out of the federal bankruptcy exemptions; residents use Tennessee exemptions. Public mirror (FindLaw). Source: T.C.A. 26-2-112 |
Where to get help in Tennessee
- Tennessee Collection Service Board, Department of Commerce and Insurance (licenses collection services)
- File a complaint or claim
More Tennessee debt & collections
- Statute of Limitations on Debt in Tennessee
- Wage Garnishment in Tennessee
- How to Respond to a Debt Collection Lawsuit in Tennessee
- All Tennessee debt & collections rules
FAQ
How much money in a bank account is protected from creditors in Tennessee?
No separate bank account exemption. A Tennessee resident may protect up to $10,000 of equity in personal property of the debtor's choosing, which can include money in a bank account.
What is the homestead exemption in Tennessee?
Up to $35,000 in real property used as the principal residence of the debtor, spouse or dependent; joint owners together up to $52,500. The exemption does not apply against property taxes, purchase-money debt for the home, or a debt secured by the home where the exemption was waived in writing.
Can a creditor take my car in Tennessee?
No separate motor vehicle exemption; a vehicle can be protected under the $10,000 personal property exemption.
Which bankruptcy exemptions can I use in Tennessee?
Tennessee has opted out of the federal bankruptcy exemptions; residents use Tennessee 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.