Legal Question in Bankruptcy in Washington

Homestead exemption

We are currently in a CH 13 payment plan and selling the house and paying off the creditors. Our projected profit is $50,000. What happens to the difference between the $40,000 from the Homestead exemption and the $50,000 profit?

Asked on 4/01/08, 2:35 pm

1 Answer from Attorneys

James Vasquez In Pacta, PLLC

Re: Homestead exemption

The homestead exemption in Washington has been increased to $125,000.00 therefore you should not have any difference, assuming you chose the state exemptions when filing.

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Answered on 4/01/08, 4:03 pm

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