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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

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

Personal Property

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.

Wages

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

Unemployment compensation benefits. Del. Code Ann., tit. 19, § 3374

Workers’ Compensation

Workers’ compensation benefits. Del. Code Ann. tit. 19, § 2355

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