Missouri 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. Missouri 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
$15,000 homestead exemption.
Wages
For head of household, 90 percent of gross earnings; for all other
debtors, 75 percent of gross earnings.
Automobiles
Motor vehicles not to exceed $3,000 in the aggregate.
Other Property
Household furnishings, household goods, clothing, appliances, books, animals,
crops or musical instruments not to exceed $3,000 in the aggregate;
wedding ring not to exceed $1,500 and other jewelry not to exceed $500;
any other property of any kind, not to exceed $600; implements,
professional books or tools of the trade of not to exceed $3,000 in
value in the aggregate; and any mobile home used as the principal residence but
not on or attached to real property owned by the debtor, not to exceed $5,000.
Note: Exemptions may have changed since our last update.
» Read the complete Missouri bankruptcy
exemptions here
» Back to Bankruptcy Laws In Your State