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CT Increases Bankruptcy Homestead Exemption to $250K

CT Increases Bankruptcy Homestead Exemption to $250K

On July 12, 2021, Governor Ned Lamont signed into law Public Act 21-161 which amended Connecticut’s homestead exemption by repealing the prior version of the statute and increasing the homestead exemption from $75,000 to $250,000, effective October 1, 2021.  This means that if you file bankruptcy and your house has less than $250,000 in equity, you will be able to keep your house and still discharge all of your debts in a Chapter 7 bankruptcy filing. If you own your…

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