New Mexico Bankruptcy Exemptions - NM Bankruptcy Exemptions

State Or Federal Exemptions Allowed

Click Here for Federal Exemptions

Homestead

$30,000

If the debtor does not own a homestead, he may claim exemptions, in addition to other exemptions, of real or personal property in the sum of $2,000 in lieu of the homestead exemption.

$2,000

Personal items

$500

Jewelry

$2,500

Clothing, furniture, books, medical-health equipment being used for the health of the person and not for his profession

Motor vehicle

$4,000

Tools of trade

$1,500

   
   
   
   

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

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