PERONSAL PROPERTY EXEMPTION
SUPPORT SB 5947
Provide Financial Relief to Washington Families
During the COVID-19 pandemic, increasing numbers of Washington families rely on exemptions to protect their property from creditors. Yet, outdated laws put this option out of reach for many at the time they need it the most. SB 5947 addresses that problem.
Personal property exemptions protect working families.
When filing for bankruptcy, a debtor can protect the equity in their personal property up to a certain limit. If the value of the property is less than the limit, the bankruptcy trustee cannot seize and sell the home. The exemption also protects small business owners struggling to stay afloat in the face of COVID-19 shutdowns.
Washington personal property exemptions are too low.
Currently, the National Consumer Law Center, gives our state a "C" grade for protecting the personal property of working families.
Families will see real pandemic relief at no cost to the state.
At a time when our state budget is strained by the COVID-19 pandemic and COVID-19 relief, SB 5947 provides real, tangible relief to vulnerable working people without costing taxpayers a cent.
What does SB 5947 do?
- Helps working families keep their cars by raising the exemption to the average value of a vehicle
- Helps people keep enough money in their bank account to cover rent and necessities
- Helps small business owners keep the tools they need to run their business
- Helps injured persons protect their compensation for their pain and suffering
Make a Contribution
Your donation will support NWCLC's efforts to pass SB 5947.
Get in touch with our staff.