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Indiana Economy:

Indiana’s largest economic driver is manufacturing and, since 1975, it has been the largest steel producer in the country.  Health Care, retail trade and education are key industries in the state. Growth in future economic prospects for Indiana outpaces the U.S. average over the next ten years.

Location of Indiana Bankruptcy Courts:

Evansville   
352 Federal Building   
101 Northwest MLK Blvd. 
Evansville, IN 47708
(812)434-6470

Indianapolis            
116 U.S. Courthouse
46 E. Ohio StIndianapolis, IN 46204
(317)229-3800

New Albany       
110 U.S. Courthouse   
121 W. Spring Street
New Albany, IN 47150
(812)542-4540

Terra Haute       
921 Ohio St     
Terra Haute, IN 47807
(812)231-1850   

South Bend
401 S. Michigan St  
South Bend, IN 46601
(574)968-2100

Fort Wayne          
1300 S. Harrison St
Fort Wayne, IN 46802-3435z
(260)420-5100

Hammond     
5400 Federal Plaza  
Hammond, In 46320
(219)852-3480

Lafyette    
230 N. 4th St    
Lafyette, IN 47901
(765)420-6300

Indiana Bankruptcy Exemptions:

Indiana Homestead Exemption

The homestead exemption protects a certain amount of equity in your home or principal residence. A debtor can exempt up to $19,300 in real estate or personal property used as a residence. In addition, any interest that debtor has in a real estate held as a tenant by the entirety is exempt (unless both owners file for bankruptcy). Ind. Code § 34-55-10-2(c)(1); 11 USC § 522(b)(3)(B).

Indiana Motor Vehicle Exemption

Indiana does not have a specific motor vehicle exemption, but you can use Indiana’s wildcard exemption to protect equity in your car, truck, van, or another vehicle.

Indiana Wildcard Exemption

You can protect any nonresidential real estate or tangible property of your choosing up to a value of $10,250. Ind. Code § 34-55-10-2(c)(2).

Other Indiana Exemptions

Insurance Benefits

All fraternal benefit society benefits are 100% exempt. Ind. Code § 27-11-6-3.

Life insurance policies that name the insured spouse, children, dependent relatives, or any creditor as a beneficiary and the proceeds of such policies are exempt from claims against the insured and the insured’s spouse; life insurance, mutual life, and accident insurance proceeds, including group policies, are exempt. Ind. Code §§ 27-1-12-14; 27-1-12-29, 27-2-5-1; 27-8-3-23.

Partnership Property

Interest in specific partnership property is exempt. Ind. Code § 23-4-1-25.

Pension and Retirement Benefits

Certain pension benefits for public employees are exempt. Ind. Code § 5-10.3-8-9. Benefit plans for legislators and retirement benefits for teachers are also exempt. Ind. Code §§ 2-3.5-4-11; 2-3.5-5-9; 5-10.3-8-9; 5-10.4-5-14.

Pension fund for firefighters and police. Ind. Code §§ 36-8-7.5-19; 36-8-7.5-22.

Tax-exempt retirement plans are exempt in every state per federal law, regardless of the exemption scheme used. For current amounts, see Your Retirement Plan in Bankruptcy.

Personal Property

You can exempt the following personal property:

  • intangible personal property up to $400. Ind. Code § 34-55-10-2.
  • all health aids. Ind. Code § 34-55-10-2.
  • any interest in a qualified retirement plan. Ind. Code § 34-55-10-2.
  • a debtor’s interest in a refund or earned income credit for exempt bankruptcy property. Ind. Code § 34-55-10-2.
  • education savings account (529 and Coverdell) contributions made more than two years prior to filing; contributions made more than one but less than two years prior to filing to $5,000; no exemption for contributions made less than one year prior to filing. Ind. Code § 34-55-10-2(c )(9), (10).
  • earned income tax credit. Ind. Code Ann. § 34-55-10-2(c)(11).
  • money in a medical or health savings account. Ind. Code § 6-8-11-19.
  • a spendthrift trust. Ind. Code § 30-4-3-2.
  • military uniforms, equipment, and guns. Ind. Code § 10-16-10-1.

Unemployment Compensation

Unemployment compensation benefits are 100% exempt. Ind. Code § 22-4-33-3.

Wages

The lesser of 75% of earned but unpaid wages or 30 times the Federal minimum wage. Ind. Code § 24-4.5-5-105.

Workers’ Compensation

All workers’ compensation is 100% exempt except for child support claims. Ind. Code § 22-3-2-17.

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