Maryland State Bankruptcy Exemptions
Laws That Keep Your Creditors' Hands Off Your Property
Exemptions are laws passed by every state that allow you to protect certain
types of your property from your creditors when you file bankruptcy-such as
your home, car, pensions and IRAs, motor vehicles, clothing, tools, and other
important property. Maryland law provides a number of exemptions that protect
your property, and your attorney will be able to advise you on which exemptions
are best for you.
Homestead
Up to $5,000 in real or personal property.
Wages
75 percent of earnings are exempt.
Automobiles
No specific automobile exemption.
Other Property
The debtor's interest, not to exceed $1,000 in value, in household
furnishings, household goods, wearing apparel, appliances, books, animals kept
as pets, and other items that are held primarily for the personal, family, or
household use; cash or property of any kind equivalent in value to $6,000;
and 100 percent of the value of professionally described health aids.
Note: Exemptions may have changed since our last update.
» Read the complete Maryland bankruptcy
exemptions here
» Back to Bankruptcy Laws In Your State