What Creditors Can't Take in Vermont
Money, home and vehicle exemptions that protect your property from creditors in Vermont.
Short answer: $700 in bank deposits or deposit accounts, plus a wildcard of $400 in any property and up to $7,000 of unused vehicle, tools, jewelry, household goods and crop exemptions. 12 V.S.A. 2740(15), (7)
| Money protected in a bank account | $700 in bank deposits or deposit accounts, plus a wildcard of $400 in any property and up to $7,000 of unused vehicle, tools, jewelry, household goods and crop exemptions. Source: 12 V.S.A. 2740(15), (7) |
|---|---|
| Homestead exemption | $125,000 in value for a homestead (dwelling house, outbuildings and the land used with them) owned and used by the debtor as a homestead. Source: 27 V.S.A. 101 |
| Vehicle exemption | Up to $2,500 total in one or more motor vehicles (the wildcard can add more). Source: 12 V.S.A. 2740(1), (7) |
Where to get help in Vermont
More Vermont debt & collections
- Statute of Limitations on Debt in Vermont
- Wage Garnishment in Vermont
- How to Respond to a Debt Collection Lawsuit in Vermont
- Medical Debt Protections in Vermont
- All Vermont debt & collections rules
FAQ
How much money in a bank account is protected from creditors in Vermont?
$700 in bank deposits or deposit accounts, plus a wildcard of $400 in any property and up to $7,000 of unused vehicle, tools, jewelry, household goods and crop exemptions.
What is the homestead exemption in Vermont?
$125,000 in value for a homestead (dwelling house, outbuildings and the land used with them) owned and used by the debtor as a homestead.
Can a creditor take my car in Vermont?
Up to $2,500 total in one or more motor vehicles (the wildcard can add more).
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.