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Michigan Bankruptcy Exemptions
What Exemptions are allowed when filing bankruptcy in Michigan?
Below is a list of some of the available Michigan bankruptcy exemptions. This list only identifies a small fraction of the exemptions available in Michigan and there are many exemptions (such as retirement accounts, life insurance, and trade tools) that are not listed and may be beneficial to you. Talk to a qualified Michigan bankruptcy attorney in your area to have all the available exemptions explained to you. Only a Michigan bankruptcy attorney can properly list and explain all of the applicable exemptions offered in Michigan.
Michigan Bankruptcy Exemptions
Homestead |
$3,500 |
Household pets |
$500.00 |
Household goods |
$3,000 |
Motor Vehicle |
$2,775 |
One computer and accessories |
$500.00 |
Crops, farm animals and feed |
$2,000 |
Tools of trade |
$2,000 |
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