Michigan Bankruptcy Exemption Information
Bankruptcy trustees are responsible for evaluating claimants' assets to see which of them qualifies for liquidation. With our convenient quick reference guide, you can find some of the Michigan bankruptcy exemptions claimed most often.
Homestead
$30,000 homestead exemption; $45,000 exemption if the debtor is 65
or older, or is disabled.
Wages
No specific wage exemption. 100 percent of workers' compensation,
unemployment, and ex-servicemen's benefits are exempt.
Automobiles
Up to $2,775 in the value of one motor vehicle.
Other Property
100 percent of family pictures, clothing, food and fuel for six months,
burial plots, and health aids; $450 per item, and an aggregate value of $3,000,
in household goods, furniture, utensils, books, and appliances; $500 in value
of a church pew; $2,000 in value of crops, farm animals, and feed; $500
in value of household pets; $500 in value of one computer and
accessories; and $2,000 in value of tools, implements, materials, and
other things to enable a person to carry on a profession.
Note: Exemptions may have changed since our last update.
» Read the complete Michigan bankruptcy
exemptions here
» Click Here to read the Federal bankruptcy
exemptions.
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