Bankruptcy by State
Bankruptcy in Virginia
How Virginia's bankruptcy exemptions, Chapter 7 income limits, and filing volume compare to the rest of the country.
Homestead exemption
$50,000
#25 of 51
Vehicle exemption
$10,000
#6 of 51
Median income (1 person)
$78,491
Chapter 7 means-test threshold
Annual filings
16,422
Year 2025
Virginia vs. national medians
National medians are calculated across all 51 states plus the District of Columbia. Ranks run from #1 (highest) to #51 (lowest). Where a state publishes a range or a conditional amount, the exemption is shown in full and ranked by its guaranteed minimum.
| Metric | Virginia | National median | Rank |
|---|---|---|---|
| Homestead exemption | $50,000 | $90,000 | #25 of 51 |
| Motor vehicle exemption | $10,000 | $7,250 | #6 of 51 |
| Median income (1-person household) | $78,491 | $71,745 | #14 of 51 |
| Median income (4-person household) | $144,826 | $126,058 | #10 of 51 |
| Annual bankruptcy filings | 16,422 | 8,707 | #12 of 51 |