Arizona Bankruptcy Law

This page on Alaska bankruptcy law focuses specifically on exemptions. Because exemptions are determined by state law, they will vary from state to state, sometimes considerably.

The U.S. Bankruptcy Code allows individual debtors to exempt certain property from creditor claims based on exemptions under either federal law or state law. Exemptions vary from state to state. Some states have adopted their own set of bankruptcy exemptions that are used in place of the federal exemptions. However, other states may give debtors an option to choose between either state or federal exemptions.

Only state exemptions are allowed in Arizona.

Bankruptcy Arizona - Common Exemptions

Homestead	$150,000 homestead exemption
Automobile	One motor vehicle not in excess of a value of $5,000; if debtor is disabled, the exemption is increased to $10,000
Household Goods	A list of specific household items are exempt providing they do not exceed $4000 in aggregate fair market value.
Books and Art Objects	Personal library of debtor not in excess of an aggregate value of $250; music instruments not in excess of an aggregate value of $250; No specified "Art Objects" exemption
Wearing Apparel	All wearing apparel not in excess of a fair market value of $500
Furs and Jewelry	See "Household Goods"
Tools of the Trade	Implements, professional books, and tools of the trade not exceeding $2,500 in aggregate value; does not include vehicle used for transportation