Michigan Bankruptcy Exemptions - MI Bankruptcy Exemptions

State Or Federal Exemptions Allowed

Click Here for Federal Exemptions

Homestead - (if over 65 or disabled, up to $56,650)

$37,775

Wearing Apparel

Household pets

$575

Family pictures

Household goods

$3,450

Other personal property

$750

Motor vehicle

$3,475

Fuel for comfortable subsistence of each householder and his or her family for six months

One computer and accessories

$575

Crops, farm animals and feed

$2,300

Tools of trade

$2,300

An individual retirement account or individual retirement annuity as defined in section 408 of the Internal Revenue Code; and the right of the judgment debtor's interest in a pension, profit-sharing, stock bonus, or other plan that is qualified under section 401 of the Internal Revenue Code, or an annuity contract under section 403 of the Internal Revenue Code. (MSA 27a.6021.)


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NOTE: These are the major bankruptcy exemptions.
Check with your bankruptcy lawyer for a full exemptions list.

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