The Arizona legislature recently updated the Arizona bankruptcy exemption dollar amounts. The changes went into effect on September 13, 2013. The dollar amounts changed for some, but not all, of the exemptions. Below is a list of those that did change, along with the new dollar amounts.
- up to $300 in bank deposits
- up to $6,000 in a motor vehicle (to $12,000 if elderly or disabled)
- up to $6,000 in household furniture and appliances not covered by other exemptions
- up to $1,000 total in a bible, bicycle, sewing machine, typewriter, computer, burial plot, rifle, pistol, or shotgun
- up to $400 in musical instruments
- up to $800 in animals
- up to $2,000 in engagement and wedding rings
- up to $150 in watch
- up to $5,000 in tools of the trade, and
- prepaid rent or security deposit to lesser of $2,000 or 1.5 times rent (only if not claiming homestead).
For a full list of the current exemption amounts in Arizona, see Nolo’s article Arizona Bankruptcy Exemptions.
Effective date: Jan 24, 2014