Delaware STATE LAW

WAGE GARNISHMENT EXEMPTION:

– 85% of disposable earnings.
– Federal law offers better deal for debtor.

MAXIMUM INTEREST RATE:

– Legal: Federal Reserve Discount Rate Plus 5%
– Judgment: Same as above.

STATUTE OF LIMITATIONS ON ENFORCEMENT:

– Open account (credit card): 4 years
– Sale of Goods: 4 years
– Written Contract: 3 years
– Domestic / Foreign Judgment: None specified

BAD CHECK LAW DAMAGES:

– Amount due plus litigation costs and protest fees

tape recording

– Two party state

BANKRUPTCY PROPERTY EXEMPTIONS
(Delaware Code Annotated)

You cannot claim federal exemptions, but you can claim the federal non–bankruptcy exemptions

– The State of Delaware has exempted the property below from seizure by the bankruptcy court when filing bankruptcy.
– Total exemptions are limited to $5,000 if single and $10,000 if married (husband and wife can double exemption amounts).

Real estate:

– None (property is not exempt)

Personal property:

– Property with a fair market value of $5,000 or less [10–4914]
– Bible, books and family pictures up to exemption limit [10–4902(a)]
– Burial plot up to exemption limit [10–4902(a)]
– Church pew or seat in place of worship up to exemption limit [10–4902(a)]
– Clothing and jewelry up to exemption limit [10–4902(a)]
– Sewing machines up to exemption limit [10–4902(c)]
– Any personal property (not tools of trade) if debtor is head of family up to $500 [10–4903]
– Pianos and leased organs up to exemption limit [10–4902(d)]
– Tools, implements and fixtures, up to $75 in New Castle and Sussex Counties and up to $50 in Kent County [10–4902(b)]

Insurance:

– Annuity contract proceeds to $350 per month [18–2728]
– Health or disability benefits up to exemption limit [18–2726]
– Life insurance proceeds up to exemption limit [18–2725]
– Group life insurance policy or proceeds up to exemption limit [18–2727]
– Life insurance proceeds if policy prohibits from being used to pay creditors up to exemption limit [18–2729]

Pensions / Retirement Plans:

– Kent County employees up to exemption limit [9–4316]
– state employees up to exemption limit [29–5503]
– Volunteer firefighters up to exemption limit [16–6653]
– Police and fire officers up to exemption limit [11–8803]

Public Benefits / Entitlements:

– Unemployment compensation up to exemption limit [19–3374]
– Wrkers' compensation up to exemption limit [19–2355]
– Aid to aged, blind, disabled, and families with dependent children, general assistance up to exemption limit [31–513 and 31–2309]

Wages:

– 85% of earned but unpaid wages [10–4913]

Miscellaneous:

– Business partnership property up to exemption limit [6–1525]