State of Rhode Island Economy:

Manufacturing, Agriculture, Health Services, and Tourism anchor the Rhode Island economy.

Rhode Island Bankruptcy Court Location:

US Bankruptcy Court
District of Rhode Island
380 Westminster Street,
6th Floor
Providence, RI 02903

Rhode Island Bankruptcy Exemptions:

⦁ Homestead exemption.

The Rhode Island homestead exemption is a generous $500,000 of equity. But to claim it you must live or intend to live on the property. Married couples cannot double the homestead exemption. (§9-26-4.1)

⦁ Personal property.

$9,600 in furniture, household goods and supplies to (spouses cannot double) (§9-26-4.1); $300 in Bibles and books (§9-26-4(4)); burial ground (§9-26-4(5)); clothing (§9-26-4(1)); $2,000 in jewelry (§9-26-4(14)); prepaid or savings tuition account (§9-26-4(15)).
⦁ Motor vehicle exemption. $12,000 in equity in a car, van, truck, SUV, motorcycle, or another vehicle. (§9-26-4)
⦁ Tools of the trade. Library of a practicing professional (§9-26-4(2)); tools used for work to $2,000 (§9-26-4(2)).
⦁ Wages. All earned but unpaid wages for a member of the military on active duty or a seaman; up to $50 for others (§9-26-4); all wages of a spouse or minor children for one year after receiving public benefits, or an amount paid by a charitable organization or fund providing low-income relief (§9-26-4).
⦁ Pensions. Tax-exempt retirement accounts (§9-26-4(11)); ERISA- qualified benefits (§9-26-4(12).); firefighter and police officers’ benefits (§9-26-5); private employee benefits (§28-17-4); state and municipal employee benefits (§36-10-34).
⦁ Public Benefits. Blind, aged, and disabled benefits; general assistance (§40-6-14); state disability benefits (§28-41-32); crime victims’ compensation (§12-25.1-3(b)(2)); workers’ compensation (§28-33-27); unemployment compensation (§28-44-58); veteran’s disability or survivor’s death benefits (§30-7-9).
⦁ Insurance. Fraternal society benefits (§27-25-18); proceeds or benefits from accident or sickness insurance (§27-18-24); proceeds from a life insurance policy (if it explicitly states that it cannot be used to pay creditors) (§27-4-12); temporary disability insurance (§28-41-32).
⦁ Miscellaneous. A minor child’s earnings (§9-26-4(9)); specific property of a business partnership. (§7-12-36)
⦁ Wildcard exemption. Any property up to $6,000. (§9-26-4(16))