New Mexico Bankruptcy Exemption Information
When performing your duties as a bankruptcy trustee, you will be called upon to assess the assets of your claimant to see if any property qualifies for liquidation. Using our quick reference page will enable you to quickly review some of the most commonly claimed New Mexico exemptions.
Homestead
$30,000 homestead exemption.
Wages
75 percent of earnings.
Automobiles
One motor vehicle in the amount of $4,000.
Other Property
Personal property in the amount of $500; tools of the trade in the amount
of $1,500; jewelry in the amount of $2,500; clothing, furniture,
books, medical-health equipment and any interest in or proceeds from a pension
or retirement fund. Also, individuals who cannot claim a homestead exemption
have an additional "wild card" exemption of $2,000.
Note: Exemptions may have changed since our last update.
» Read the complete New Mexico
bankruptcy exemptions here
» Click Here to read the Federal bankruptcy
exemptions.
» Back to Bankruptcy Laws In Your State