Bankruptcy in Alaska: Exemptions and Filing Guide
State-specific bankruptcy exemptions and filing information for Alaska. These exemptions determine what property you can keep when filing Chapter 7 bankruptcy.
Data last updated: Jan 15, 2025Key Takeaways
- Homestead exemption: $72,900.
- Vehicle exemption: $4,850.
- Must use state exemptions (no federal option).
- Attorney fees: $1,500–$2,500 (Ch. 7) / $3,000–$5,000 (Ch. 13) typical.
Alaska Bankruptcy Exemptions
Means Test: Alaska Median Income
To qualify for Chapter 7 in Alaska, your income must be below the state median or you must pass the means test showing no disposable income for creditors.
Filing Costs
Related Resources
- Debt collection statute of limitations in Alaska
- Consumer complaints in Alaska
- Free legal aid in Alaska
Frequently Asked Questions
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What is the Alaska homestead exemption?
Alaska provides a homestead exemption of up to $72,900 to protect your primary residence equity in bankruptcy.
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Can I keep my Permanent Fund Dividend in bankruptcy?
The PFD may be considered part of your bankruptcy estate. Timing of your filing relative to the PFD distribution date matters.
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Does Alaska allow federal exemptions?
No. Alaska requires the use of its own state exemptions in bankruptcy cases.
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How does filing bankruptcy affect my fishing permit in Alaska?
A commercial fishing permit may be considered property of the estate. Consult an attorney about how to protect it using available exemptions.