Massachusetts Bankruptcy Exemption Information
Evaluating debtors' property for assets that can be liquidated is one of the foremost responsibilities of a bankruptcy trustee. Property that is exempt from liquidation varies among different states, so use our quick reference page to learn about some of the Massachusetts bankruptcy exemptions that are claimed with the greatest frequency.
Homestead
Up to $500,000 exemption for land and buildings.
Wages
75 percent of earnings are exempt.
Automobiles
One automobile up to $700 in value.
Other Property
100 percent of wearing apparel, beds and bedding; $3,000 in
household furniture; bibles, and books not exceeding $200 in value; $500
in tools, implements and fixtures and $500 in materials and stock
necessary for carrying on trade or business; boats, fishing tackle and nets not
exceeding $500; and $125 of cash, savings or other deposits in a
banking institution.
Note: Exemptions may have changed since our last update.
» Read the complete Massachusetts
bankruptcy exemptions here
» Click Here to read the Federal bankruptcy
exemptions.
» Back to Bankruptcy Laws In Your State