Washington Bankruptcy Exemption Rights
Each person is given the right to retain certain property when filing for liquidation. The Washington bankruptcy exemption list provided by the state legislature, as well as the Federal list provided by the code are available to all Washington residents. An election must be made, choosing either state or federal alternatives. Because of the more generous homestead allowance under the state statute, most Washington residents prefer the state list. ($30,000 vs. $18,500). Also pay special attention to included categories. Covered assets vary significantly, especially relating to covered pensions, retirement accounts, and annuity payments owed in the future.
Bankruptcy discrimination in the State of Washington
As provided under Section 525 of the Code, no employer may discriminate against any person simply because of filing a potion in bankruptcy. Discharged debts, failed friendships and relationships, and the aggravation of dealing with wage orders notwithstanding, employers may be held liable. All debtors who file are a protected class. But also be aware, that prohibited discrimination is difficult to prove. Unless bankruptcy discrimination is the sole cause of job loss, recovery becomes highly unlikely. In employment at will states, employers may terminate any employee, for any reason, unless strictly prohibited by law. In practice, almost all large employers have practiced excuses ready and lawyers in tow, to draft confirming letters of termination.
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