Missouri Bankruptcy Exemptions
The chart below contains a summary of Missouri state bankruptcy exemptions and other relevant statutory laws. Click here for complete State of Missouri bankruptcy exemptions laws.
Note: Federal bankruptcy exemptions are not available.
Personal exemptions allowed by Missouri Bankruptcy Laws
Note: Under the 2005 bankruptcy law, almost all types of tax-exempt retirement accounts are exempt in bankruptcy whether state or Federal exemptions are used. Exemptions for 401(k)s, 403(b)s, profit-sharing and money purchase plans, and defined benefit plans include the entire account amounts. However, with traditional and Roth IRAs, the exemption is limited to a total value of $1,171,650 per person for all accounts held by the debtor (not per account). The total value amount is adjusted every three years for inflation. The relevant statutes: 11 U.S.C. §522(d)(12) for Federal bankruptcy exemptions; 11 U.S.C. §522(b)(3)(C) for state bankruptcy exemptions.
|Missouri Homestead||Real property to $15,000; mobile home to $5,000.||513.430(6); 513.475|
|Wages||Minimum 75% of weekly earnings (90% for the head of family) or 30 times the Federal minimum hourly wage (whichever is greater). Bankruptcy judge may authorize more for low-income debtors.||525.030|
|Automobile||Up to $3,000||513.430(5)|
|Other property||Disability or illness benefits||513.430(10)(c)|
|Alimony and child support to $750 per month||513.430(10)(d)|
|Appliances, household goods, furnishings, clothing, books, crops, animals, and musical instruments to $3,000 total||513.430(1)|
|Burial grounds to 1 acre or $100||214.190|
|Implements, books, and tools of trade to $3,000||513.430(4)|
|Wildcard||If head of family, $1,250 of any property plus $350 per child. If not head of family, $600 of any property.||513.430(3); 513.440|
Note: While this reference information is current as of August 2010, it may not reflect the most up-to-date exemption figures on official state of Missouri bankruptcy court statutes.