Delaware State Economy:
- Agriculture — broilers, soybeans, corn, milk.
- Fishing Industry — crabs, clams.
- Manufacturing — chemicals, food products, paper products, rubber and plastics products, primary metals, printed materials.
- Mining — sand and gravel, magnesium compounds.
Location of Delaware Bankruptcy Court:
US Bankruptcy Court:
19801, 824 N Market St
Wilmington, DE 19801
Delaware State Bankruptcy Exemptions:
Delaware’s Homestead or Residential Property Exemption
The homestead exemption protects a certain amount of equity in your home or principal residence. A debtor is allowed to exempt up to $125,000 in real property or a manufactured home that used as a principal residence. Also, any interest that debtor has in a real estate held as a tenant by the entirety is exempt. Del. Code Ann. tit. 10, § 4914
For more details about how the homestead exemption works in Delaware, see The Delaware Homestead Exemption.
Delaware’s Motor Vehicle Exemption
Up to $15,000 of equity in a motor vehicle, if necessary for your employment. Del. Code Ann. tit. 10, § 4914
Delaware’s Wildcard Exemption
The head of household can protect an additional $500 worth of any other personal property, except tools of the trade. Del Code Ann. tit. 10, § 4903.
Life insurance proceeds, group life insurance policy or proceeds, and life insurance proceeds if the policy prohibits using them to pay creditors. Del. Code Ann. tit. 18, § 2725, 2727, 2729
Family bible and books, family pictures, pew or seat in a place of public worship, burial plot, and you and your family’s clothing. Sewing machines and pianos for personal use.
Pension, Retirement, and Life Insurance Benefits
Amounts payable under retirement plans, annuities, and insurance contracts. Del. Code Ann. tit. 10, § 4915
Police officers’ pensions. Del. Code Ann. tit. 11, § 8803
State employees pensions. Del. Code Ann. tit. 29, § 5503
Volunteer firefighters’ pensions. Del. Code Ann. tit. 16, § 6653
You can also protect tax-exempt retirement accounts, including 401(k)s, 403(b)s, profit-sharing and money purchase plans, SEP and SIMPLE IRAs, and defined-benefit plans (11 U.S.C. § 522(b)(3)(C).) Learn more about retirement accounts in bankruptcy.
85% of unpaid wages. Del. Code Ann. tit. 10, § 4913
Educational Savings Plans
Delaware college investment plan accounts or Delaware ABLE accounts. Del. Code Ann. tit. 10, § 4916
Unemployment compensation benefits. Del. Code Ann., tit. 19, § 3374
Workers’ compensation benefits. Del. Code Ann. tit. 19, § 2355