Note: Not every state permits the use of federal exemptions. Some states have "opted-out" of the system. Although the Bankruptcy Code is federal, Congress specifically permitted this opt-out of the federal bankruptcy exemption scheme. How do you know whether your state has opted-out? Simply click here to see a table. It is usually better to file in an opt-in state, however, you should check with local counsel first. Sometimes it may be possible to file in more than one state. The Bankruptcy Code should be consulted and a competent attorney retained.

Sometimes, a debtor may want to choose the state exemptions out of choice. Pennsylvania's interpretation of tenants-by-the-entireties covers personal property like bank accounts and in fact, anything acquired by the spouses for use in a home owned in the entireties. "Entireties" ownership means husband/wife joint ownership. It is an unbreakable unity and is unassailable by any creditor of either spouse. This does not hold true when both spouses owe the debt jointly. To see a list of Pennsylvania state exemptions, click here.