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Virginia Bankruptcy Exemptions: What You Can Keep in 2026
Virginia exemptions can work well, but they are easy to misread. The residence amount is separate from the smaller extra homestead amount, and the car exemption now matters in many cases.
Short answer
Virginia generally makes domiciled filers use Virginia exemptions. You usually cannot elect the federal bankruptcy exemption set in 11 U.S.C. § 522(d).
The headline number is $50,000 for a principal residence. That is not a general wildcard. Separate extra homestead protection starts at $5,000, increases to $10,000 for a householder age 65 or older, adds $500 per dependent, and can add $10,000 for a qualifying disabled veteran.
Reviewed August 18, 2026Next indexed update (§§ 34-4, 34-26) April 1, 2027
2024 update: Virginia Acts of Assembly Chapter 656 increased the residence, vehicle, household, tools, apparel, and firearms amounts. Sections 34-4 and 34-26 now schedule CPI adjustments every three years beginning April 1, 2027. The $10,000 disabled-veteran add-on in § 34-4.1 is not indexed.
Sources: Va. Code §§ 34-3.1, 34-4, 34-4.1, 34-6, 34-13, 34-14, 34-17, 34-21, 34-26, 34-29, 34-34, 55.1-136; 11 U.S.C. § 522.
Update status: Statutory text checked August 18, 2026. This is a simplified planning estimate; title, prior homestead claims, domicile, liens, TBE, joint debt, and trustee review can change the result.
Principal residence protection
$50,000
of real or personal property used as the householder's principal residence, separate from the extra homestead amount. Joint cases may allow more if both filers qualify and have protectable interests, but title and prior claims matter. Va. Code § 34-4
Virginia exemptions at a glance
Virginia bankruptcy exemptions table
Check the legal limits first. Then use the estimator to see how those limits may apply to your home, car, cash, tools, household goods, and other equity.
| Exemption | Statute | One filer | Joint filers |
|---|---|---|---|
| Principal residence Real or personal property used as the principal residence of the householder or dependents. This part cannot be redirected to ordinary non-residence property. |
§ 34-4 | $50,000 | $50,000 per qualifying filer* |
| Extra cash/property protection The statute calls this homestead protection for real or personal property, including money and debts due. People often use it for cash, refunds, extra car equity, or home overflow. |
§ 34-4 | $5,000$10,000 if 65+ | up to $10,000up to $20,000 if both 65+* |
| Dependent add-on Additional protection for each dependent supported by the householder. No dependent can be claimed by more than one householder. |
§ 34-4 | $500 each | $500 each |
| Disabled-veteran add-on Additional real or personal property for a Virginia resident veteran with a service-connected disability of 40% or more. |
§ 34-4.1 | $10,000 | up to $20,000* |
| Motor vehicle Motor vehicles not claimed as tools of the trade. A perfected security interest has priority; exemption covers equity. |
§ 34-26(8) | $10,000 | up to $20,000* |
| Tools of the trade Tools, books, instruments, equipment, machines, and necessary occupational vehicles. Commuter-only vehicles do not qualify here. |
§ 34-26(7) | $10,000 | up to $20,000* |
| Household furnishings Beds, dressers, floor coverings, appliances, cookware, dishes, utensils, and similar household furnishings. |
§ 34-26(4a) | $5,000 | up to $10,000* |
| Wearing apparel All wearing apparel of the householder. |
§ 34-26(4) | $1,000 | up to $2,000* |
| Firearms Total value of firearms. |
§ 34-26(4b) | $3,000 | up to $6,000* |
| Health aids, pets, rings Prescribed health aids, pets not kept for sale or profit, and wedding or engagement rings. |
§ 34-26 | Exempt | Exempt |
| Family portraits and heirlooms The limit applies to their combined net value after any prior security interest. |
§ 34-26(2) | $5,000 | up to $10,000* |
| Burial lot and preneed funeral contract A burial lot is exempt. A preneed funeral contract has a $5,000 limit. |
§ 34-26(3) | Burial lot exemptcontract up to $5,000 | Burial lot exemptcontracts up to $10,000* |
| Retirement accounts Protection depends on the account and source of the funds. A federal cap can apply to some traditional and Roth IRA assets; qualifying rollovers and other exceptions can change the result. |
§ 34-34 11 U.S.C. § 522(n) |
Account-specific† | Special joint rule† |
| Personal injury / wrongful death Causes of action and proceeds, subject to listed liens and support exceptions. |
§ 34-28.1 | Exempt† | Exempt† |
| Tenancy by the entirety Married couples. See the section below. |
§ 55.1-136 11 U.S.C. § 522(b)(3)(B) |
Potentially exempt† | limited by joint claims† |
Amounts are based on Virginia statutory text reviewed August 18, 2026. * Joint entries are planning assumptions. Each filer must qualify and have a protectable ownership interest; use of two per-filer amounts against the same residence also depends on title, prior claims, debt structure, and local practice. † For cases filed from April 1, 2025 through March 31, 2028, a $1,711,975 aggregate federal cap applies to some traditional and Roth IRA assets. Qualifying rollovers are not counted toward that cap, and a court may increase it. Virginia's joint-plan rule applies only when spouses have interests in the same plan or plans, face process on the same debt, and that debt arose during the marriage.
Estimate What Virginia Exemptions Protect
Estimate what is protected and what may need planning
Start with what people usually worry about: home, vehicle, cash, refund, and valuable personal property. Optional Virginia add-ons and less common property categories sit below the main fields.
Non-exempt equity
$0
Your situation
Use current value and payoff amounts. If a house or car is paid off, leave the payoff blank. Most people can skip the optional sections.
This joint estimate applies two per-filer amounts as a planning assumption. Whether both are available against the same residence depends on title, each spouse's ownership interest, prior claims, debt structure, tenancy by the entirety, and local practice.
Principal residence
$
$
Home equity used: $0
Exemptions protect equity. They do not catch up missed mortgage payments or remove valid liens.
Vehicle
$
$
Vehicle equity used: $0
Exemptions protect vehicle equity. They do not cure missed car payments or change lender rights on a secured loan.
$
$
Other property categoriesHeirlooms, funeral contract, tools, household goods, clothing, firearms
Enter current resale value minus any loan or lien secured by the item.
$
$
$
$
$
$
Extra Virginia protectionMost people can skip this
These answers only increase the smaller extra homestead amount. Leave them at zero if none apply.
#
#
#
Estimated non-exempt equity
$0
Nothing entered yet. Add property values and payoff amounts to estimate non-exempt equity.
Run the estimator to create a consultation summary.
For illustration only. This is a limited model of Virginia exemption statutes, not legal advice. It applies two per-filer amounts in a joint estimate only as a planning assumption; availability against the same property requires case-specific review. It does not apply tenancy by the entirety, prior homestead deeds, tax-credit refund tracing, liens, valuation disputes, or trustee-specific practice. It also does not decide whether the type of debt limits an exemption. Virginia law identifies debt-specific limits involving purchase-money debt for the property and spousal or child support obligations; bankruptcy law can affect how those claims are treated.
See how extra cash/property protection actually stacks (worked example)
The $50,000 residence protection is locked to a principal residence. The smaller homestead amount can cover real or personal property, including cash or extra vehicle equity.
Scenario · single filer · home equity + paid-off car + tax refund
Principal residence cap Va. Code § 34-4
$50,000
Extra cash/property protection Va. Code § 34-4
$5,000
Motor vehicle cap Va. Code § 34-26(8)
$10,000
Equity entered
$54,000 home + $12,000 car + $3,000 refund
Residence cap protects home
- $50,000
Vehicle cap protects car
- $10,000
Extra protection covers overflow
- $5,000
Estimated non-exempt equity
$4,000 exposed
Vehicle equity
Can I keep my car in a Virginia bankruptcy?
Short answer: Virginia protects up to $10,000 of motor-vehicle equity, before counting any unused extra homestead protection.
The vehicle exemption applies to equity, not sticker value. A car worth $18,000 with a $9,000 loan has $9,000 of equity and can fit inside the vehicle exemption. A paid-off $15,000 car has $5,000 above the vehicle cap, so the excess may need extra homestead protection.
Vehicles used as necessary occupational tools can sometimes be analyzed under the tools-of-the-trade exemption instead, but a vehicle used only to commute is not treated as a trade tool under § 34-26(7).
Home equity
Can I keep my house if I file bankruptcy in Virginia?
Virginia protects up to $50,000 in real or personal property used as the principal residence of the householder or dependents. Equity means the home value minus mortgages and other liens.
That $50,000 residence protection is separate from the smaller extra homestead amount. Under Va. Code § 34-13, the unused residence portion cannot be moved to a bank account, ordinary car, or other non-residence property. Married homeowners should also review tenancy by the entirety, because properly titled entireties property can be more important than the dollar cap when debts are separate.
In a joint case, the estimator assumes each spouse may use a per-filer residence amount if each qualifies and has a protectable interest. That assumption should be validated against title, debt structure, and local bankruptcy practice.
Claiming the exemption
Does Virginia require a homestead deed in bankruptcy?
Short answer: for property claimed exempt in a bankruptcy case, Virginia says the official bankruptcy Schedule of Property Claimed as Exempt is enough to set apart the property. Outside bankruptcy, homestead deed rules can still matter.
Virginia Code §§ 34-6 and 34-14 normally describe writings recorded like deeds for real or personal property selected under the homestead statutes. Those same sections include a bankruptcy-specific rule: when the property is claimed exempt in a Title 11 case, the official bankruptcy exemption schedule is enough.
The exemptions listed in § 34-26—including a vehicle, tools, household furnishings, apparel, family heirlooms, and a preneed funeral contract—do not require a homestead deed.
Two timing issues still deserve attention. First, § 34-17 requires the exemption to be set apart before property is sold by creditor process or by a bankruptcy trustee. Second, § 34-21 counts amounts set apart under §§ 34-4, 34-4.1, or 34-13 against the maximum exemption for eight years.
A Virginia-specific issue
If you're married: tenancy by the entirety
For some married couples, TBE can protect property even when equity is above the statutory dollar caps. Debt in both names changes the result.
Spouses in Virginia can own real or personal property as tenants by the entirety while they are married. Property in qualifying trusts can keep the same immunity from separate creditors if the statutory conditions are met.
If the debt belongs to one spouse only, TBE property can be shielded from that spouse's separate creditors. That can protect value far above the statutory homestead amount.
The catch is joint debt. If both spouses owe the same unsecured debt, such as a joint credit card or co-signed loan, that joint creditor can change the bankruptcy analysis. For couples with mostly joint debt, TBE may protect little or nothing.
The debt list matters more than the deed alone. Try the toggle.
TBE protection check
One fact can flip the answer.
OK
Protected
TBE property is shielded from a creditor of just one spouse, but bankruptcy review still matters.
Is the property titled to both spouses as tenants by the entirety?
Do you carry joint unsecured debt (both names)?
Chapter choice
Chapter 7 and Chapter 13 use exemptions differently
Same exemptions. Different job. In Chapter 7, non-exempt equity can put property at risk. In Chapter 13, it usually affects the payment.
Chapter 7
Liquidation · a few months
Exemptions decide what you keep. Anything over your exemption limits is non-exempt, and the trustee can sell it to pay creditors.
If everything fits inside your exemptions, you typically keep it all. That's the goal.
Exemptions = the wall around your property. Equity over the wall is exposed.
Chapter 13
Repayment · 3-5 year plan
Chapter 13 often lets you keep property while you make plan payments, but exemptions still set the "best-interests" floor. Your plan must pay unsecured creditors at least what they'd have gotten in a Chapter 7.
So non-exempt equity usually changes the payment math rather than automatically costing you the asset.
Exemptions = the floor on your plan payment, not a wall around assets.
Next questions
What to check after the exemption number
The exemption number is only one piece of the filing decision. Income eligibility, chapter choice, timing, and local court practice can change the best next move.
Reference & the rest of the list
Protections people miss, plus common questions
Retirement accounts
Va. Code § 34-34; 11 U.S.C. § 522(n)Virginia follows federal bankruptcy protection for qualifying retirement interests. A $1,711,975 aggregate cap can apply to some traditional and Roth IRA assets for cases filed from April 1, 2025 through March 31, 2028. Qualifying rollovers are not counted toward that cap, a court may increase it, and Virginia adds a conditional rule for spouses with interests in the same plan or plans. The claim must also meet § 34-17's timing rules.
Wages vs. garnishment
Va. Code § 34-29For ordinary debts, wage garnishment is generally capped at the lesser of 25% of disposable earnings or the amount above 40 times the higher minimum wage.
Injury and support rights
Va. Code §§ 34-28.1, 34-28.2Personal-injury or wrongful-death claims and necessary spousal or child support rights are protected, subject to listed liens and exceptions.
Debt-specific limits
Va. Code § 34-5Virginia law limits use of property exemptions against purchase-money debt for the property and against spousal or child support obligations. Bankruptcy law can affect how those claims are treated, so the debt requires separate review.
Common Virginia exemption questions
Will I lose my tax refund?
A pending or recently received refund is usually treated as cash or personal property. The portions attributable to the federal Child Tax Credit, Additional Child Tax Credit, or Earned Income Credit are separately protected by § 34-26(9). Other refund value may need extra homestead protection.
Is the money in my bank account safe?
Bank balances are measured on the filing date. Ordinary cash usually needs the extra homestead amount under § 34-4, unless the money is traceable to another protected source such as exempt wages, support, or protected tax-credit refund portions.
Can I keep my car?
Usually, yes, if the equity fits inside Virginia's $10,000 motor-vehicle exemption. If equity is higher, the excess may need unused extra homestead protection or may create non-exempt equity.
Can I use federal bankruptcy exemptions instead?
Usually no. Virginia Code § 34-3.1 opts out of the federal bankruptcy exemption set in 11 U.S.C. § 522(d), except where Virginia law or federal nonbankruptcy law independently permits a protection. If the federal domicile lookback leaves no state exemptions available, federal law may provide a fallback.
Can married couples double the homestead?
The table and calculator use a planning assumption that joint filers may claim per-filer amounts when both filers qualify and each has a protectable ownership interest. That assumption must be checked against title, prior claims, debt structure, and local bankruptcy practice. Tenancy by the entirety may be more important than doubling when debts are separate.
730days
One qualifier before you rely on any of this
To use Virginia's exemptions you generally must have been domiciled here for the 730 days before filing. If you moved more recently, bankruptcy law usually looks to where you were domiciled for the longer part of the 180 days before that two-year window. If that lookback leaves no state exemptions available, federal § 522(d) may become available as a fallback.
If you acquired a principal residence within 1,215 days before filing, federal law can cap state homestead protection at $214,000 for cases filed from April 1, 2025 through March 31, 2028. Virginia's $50,000 residence cap is usually below that federal ceiling, but the rule can still matter for moved or transferred equity.
Review the local numbers before choosing a chapter
Use these state-specific resources to check Chapter 7 eligibility, property protection, wage-garnishment exposure, chapter choice, cost, and timing before a case strategy is selected.
Virginia exemptions
Review local property protections and the planning issues that can affect homes, vehicles, cash, and refunds.
Review exemptionsVirginia wage garnishment
Estimate the wage limit for ordinary consumer-debt garnishments and compare bankruptcy timing options.
Use calculatorChapter 7 vs. Chapter 13
Compare discharge timing, asset risk, repayment-plan issues, and when each chapter may fit.
Compare chaptersBankruptcy cost
Review filing fees, course costs, attorney-fee factors, and Chapter 13 fee-review references.
Review costsChapter 13 payment calculator
Estimate a repayment-plan payment from arrears, priority debt, unsecured-debt targets, and trustee administration.
Estimate paymentStop foreclosure
Review when bankruptcy may affect a foreclosure sale and when Chapter 13 can help cure arrears.
Review foreclosure optionsBankruptcy and security clearance
Review how bankruptcy, financial disclosures, and documentation can affect clearance-sensitive debt planning.
Review clearance planningRun the estimator before you call
Find out what you'd keep.
Bring your home value, mortgage balance, car loan balance, bank balance, expected refund, prior homestead-deed history, and deed language. We'll map what is protected and what may be exposed.