Mississippi 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. Mississippi 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
$75,000 exemption for land and buildings; one mobile or manufactured home
used as a primary residence in the amount of $20,000.
Wages
100 percent of gross earnings for 30 days; 75 percent of gross earnings
thereafter.
Automobiles
No specific automobile exemption.
Other Property
Tangible personal property of the following kinds not exceeding $10,000.00
in cumulative value: household goods, wearing apparel, books, animals or crops,
motor vehicles, implements, professional books or tools of the trade, cash on
hand, and professionally prescribed health aids; and any item of tangible
personal property worth less than $200.
Note: Exemptions may have changed since our last update.
» Read the complete Mississippi
bankruptcy exemptions here
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