Effective June 11, 2015, the Alabama legislature increased several of the exemptions that may be used in bankruptcy. Those are:
Homestead exemption. The homestead exemption, previously $5,000, is now $15,000. Married couples can double this exemption if they file a joint bankruptcy petition, bringing the total to $30,000. (To learn more, see The Alabama Homestead Exemption.)
Wildcard exemption. Bankruptcy filers can use the Alabama wildcard exemption to protect a certain dollar limit of any type of personal property other than wages. The legislature increased the former dollar limit of $3,000 to $7,500.