Rhode Island Bankruptcy Overview
Rhode Island offers strong bankruptcy protections including a $500,000 homestead exemption and the ability to choose between state and federal exemptions. Rhode Island's homestead exemption is one of the highest in the nation, providing excellent protection for homeowners.
2026 Rhode Island Median Income
| Household Size | Annual Median Income |
|---|---|
| 1 Person | $68,425 |
| 2 People | $85,847 |
| 3 People | $103,214 |
| 4 People | $125,428 |
Rhode Island Bankruptcy Exemptions
Rhode Island Homestead Exemption
Up to $500,000.
Rhode Island's homestead exemption is among the highest in the nation at $500,000 of equity in your primary residence. This provides exceptional protection for Rhode Island homeowners, particularly in areas with high property values like Providence and Newport.
Rhode Island Vehicle Exemption
Up to $12,000 in value.
Rhode Island allows you to protect up to $12,000 of equity in one motor vehicle—one of the highest vehicle exemptions in the United States.
Rhode Island Personal Property Exemptions
- Household Goods: Up to $10,000 total for furniture, appliances, and household goods
- Clothing: Unlimited for necessary wearing apparel
- Jewelry: Up to $2,000 total
- Books and Tools: Up to $1,500 for professional books and tools of trade
- Retirement Accounts: Unlimited protection for qualified plans
Choice of Exemptions: Rhode Island allows you to choose between state and federal exemptions. Given Rhode Island's $500,000 homestead exemption (compared to federal's $27,900), most Rhode Island homeowners benefit significantly from using state exemptions.
Rhode Island Bankruptcy Court
Rhode Island has a single federal bankruptcy court district:
- Providence: 380 Westminster Street, Providence, RI 02903
Cost of Filing Bankruptcy in Rhode Island
Attorney Fees
- Providence: $1,300 - $2,100 for Chapter 7; $3,200 - $4,700 for Chapter 13
- Warwick: $1,300 - $2,000 for Chapter 7; $3,100 - $4,600 for Chapter 13
Rhode Island FAQs
Can I keep my home with a $500,000 homestead exemption?
Yes, if your home equity doesn't exceed $500,000. You must continue making mortgage payments if you have a home loan.
Should I use Rhode Island state exemptions or federal exemptions?
Most Rhode Island homeowners should use state exemptions due to the exceptional $500,000 homestead exemption and $12,000 vehicle exemption. Federal exemptions may only be better for renters who can utilize the wildcard.
Disclaimer: This guide provides general information about bankruptcy in Rhode Island. Consult with a licensed Rhode Island bankruptcy attorney for advice specific to your situation.