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Michigan Bankruptcy Exemptions
Michigan has two sets of exemptions : State or Federal (Choose one)
State Exemptions
Homestead |
$34,450 ($51,650 if over 65 or disabled) |
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Clothing |
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Pets |
$575 |
Family Pictures |
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Household Goods |
$3,450 |
Personal Property (wildcard - other) |
$750 |
Motor Vehicle |
$2,775 |
Fuel - for 6 Months |
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Computer + Computer Accessories |
$575 |
Farm Animals + Feed; Crops |
$2,300 |
Tools for Employment |
$2,300 |
Federal Exemptions
Homestead |
$20,200 |
|---|---|
Life Insurance Policy |
$9,850 |
Personal items $475 per item; $9,850 total |
$9,850 |
Jewelry |
$1,225 |
Motor Vehicle |
$3,225 |
Personal Injury Rewards |
$18,450 |
Tools for Employment |
$1,850 |
$925 of any item |
$925 |
| Michigan Bankruptcy Questions | Bankruptcy Dictionary |
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Information on this website does not constitute attorney-client privilege nor is intended to replace a meeting with a bankruptcy lawyer
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