Nevada STATE LAW

WAGE GARNISHMENT EXEMPTION:

– 25% of disposable earnings or 30 times the federal minimum hourly wage, whichever is less

MAXIMUM INTEREST RATE:

– Legal: 2% over prime rate
– Judgment: 2% over prime rate

STATUTE OF LIMITATIONS FOR ENFORCEMENT:

– Open Account (credit cards): 4 years
– Written Contract: 6 years
– Domestic Judgment: 6 years
– Foreign Judgment: 6 years

BAD CHECK LAW DAMAGES:

– Amount of check, plus protest fees three times amount of check (but not to exceed $500)

tape recording

– Two party state

BANKRUPTCY PROPERTY EXEMPTIONS:
(Nevada Revised Statutes Annotated)

– Cannot use federal exemptions, but can claim the federal non–bankruptcy exemptions
– The State of Nevada has exempted the property and income below from seizure by the bankruptcy court to pay creditors:

Real Property:

– Real property or mobile home used as residence to $125,000 (exemption may NOT be doubled for married couples and homestead exemption must be recorded before filing bankruptcy) [21.090(1)(m), 115.010 and 115.020]

Personal Property:

– Appliances, household goods, furniture, home and yard equipment to $3,000 total [21.090(1)(b)]
– Books to $1,500 [21.090(1)(a)]
– Automobile up to $4,500, but unlimited amount if equipped for disabled person [21.090(1)(f) and (o)]
– Pictures and keepsakes, unlimited amount [21.090(1)(a)]
– One firearm [21.090(1)(i)]
– Health aids, unlimited amount [21.090(1)(p)]
– Farm trucks, tools and equipment, seed and stock up to $4,500 [21.090(1)(c)]
– Uniforms and equipment needed for military use, unlimited amount [21.090(1)(j)]
– Cabin or dwelling of miner or prospector and cars and equipment for mining up to $4,500 [121.090(1)(e)]
– Geological specimens, art curiosities or paleontological remains (must be catalogued and numbered), unlimited amount [21.100]
– Funeral service money held in trust, unlimited amount [689.700]
– Library, equipment, supplies, tools and materials for business up to $4,500 [21.090(1)(d)]

Insurance / Annuities:

– Fraternal society benefits, unlimited amount [695A.220]
– Annuity contract proceeds up to $350 per month [6878.290]
– Life insurance policy or proceeds, unlimited amount [21.090(1)(k)]
– Life insurance proceeds if debtor is not the insured, unlimited amount [6878.260]
– Group life or health policy or proceeds, unlimited amount [6878.280]
– Health proceeds, unlimited amount [6878.270]

Pensions / Retirement Plans:

– Public employees, unlimited amount [286.670]
– Retirement benefits up to $500,000 [21.090(1)(q)]

Public Benefits / Entitlements:

– Aid to aged, blind, disabled and families with dependent children, unlimited amount [422.291]
– Workers compensation, unlimited amount [616.205]
– Unemployment compensation, unlimited amount [612.710]
– Vocational rehabilitation benefits, unlimited amount [615.270]

Wages:

– 75% of earned but unpaid wages [21.090(1)(g)]

Miscellaneous:

– Business partnership property, unlimited amount [87.250]
– Alimony or child support, unlimited amount [21.090(1)(r)(s)]