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Bankruptcy in Kentucky: Exemptions and Filing Guide

State-specific bankruptcy exemptions and filing information for Kentucky. These exemptions determine what property you can keep when filing Chapter 7 bankruptcy.

Data last updated: Jan 15, 2025

Key Takeaways

  • Homestead exemption: $5,000.
  • Vehicle exemption: $2,500.
  • Federal exemptions available — you can choose state or federal.
  • Attorney fees: $1,000–$1,500 (Ch. 7) / $2,500–$3,500 (Ch. 13) typical.
$5,000 Homestead exemption
$2,500 Vehicle exemption
Yes Federal option
$338 (Chapter 7) / $313 (Chapter 13) Filing fee

Kentucky Bankruptcy Exemptions

  • Homestead$5,000
  • Vehicle$2,500
  • Personal property$3,000 in household furnishings
  • Wildcard$1,000
  • Federal exemptionsAvailable (can choose)

Means Test: Kentucky Median Income

To qualify for Chapter 7 in Kentucky, your income must be below the state median or you must pass the means test showing no disposable income for creditors.

  • 1 person$52,200
  • 2 people$63,800
  • 3 people$74,200
  • 4 people$87,500

Filing Costs

  • Court filing fee$338 (Chapter 7) / $313 (Chapter 13)
  • Typical attorney fee$1,000–$1,500 (Ch. 7) / $2,500–$3,500 (Ch. 13)
  • Court districtsEastern and Western Districts of Kentucky

Kentucky bankruptcy court

Related Resources

Frequently Asked Questions

  • What is Kentucky's homestead exemption?

    Kentucky's state homestead exemption is only $5,000, which is among the lowest in the country. Federal exemptions may offer better protection.

  • Can I choose federal exemptions in Kentucky?

    Yes. Kentucky allows debtors to choose between state and federal bankruptcy exemptions. Many filers choose federal exemptions because they are more generous.

  • What is the wildcard exemption in Kentucky?

    Kentucky provides a $1,000 wildcard exemption. Under federal exemptions, the wildcard is $1,475 plus up to $13,950 of unused homestead exemption.

  • Can I protect my retirement account in Kentucky?

    Yes. ERISA-qualified plans and IRAs are protected in both state and federal exemption systems.

Legal Disclaimer: FreeNetLaw provides general legal information, not legal advice. The information on this site is not a substitute for consultation with a licensed attorney. Laws vary by jurisdiction and change frequently. Always verify information with official sources and consult a qualified attorney for advice about your specific situation.

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