Michigan State Bankruptcy Laws


What Are The Michigan Bankruptcy Exemptions?

MichiganMichigan law protects all or a portion of your property from being seized by creditors or the bankruptcy trustee in a Chapter 7 bankruptcy. In a Chapter 13 bankruptcy, you are generally allowed to keep all of your assets and property. Certain exceptions may apply, so its wise to consult with a Michigan bankruptcy attorney to find which of your assets will be protected in a bankruptcy filed in Michigan. In general, the major Michigan bankruptcy exemptions include:

General Michigan Exemptions
Real Estate (the Homestead Exemption)
Up to $30,000 of equity in your home can be protected. ($45,000 if you are 65 or older or disabled)
Automobiles
One motor Up to $2,775 of equity in one motor vehicle can be protected.
Other Property
100 percent of family pictures, clothing, food and fuel for six months, burial plots, and health aids; $450 per item, and an aggregate value of $3,000, in household goods, furniture, utensils, books, and appliances; $500 in value of a church pew; $2,000 in value of crops, farm animals, and feed; $500 in value of household pets; $500 in value of one computer and accessories; and $2,000 in value of tools, implements, materials, and other things to enable a person to carry on a profession.

In Michigan, you have the choice of electing the federal exemption statutes rather than the Michigan state exemptions. Consult with a Michigan bankruptcy attorney for more details.

View the complete list of Michigan bankruptcy exemptions

Please remember that this page provides general information only, and is not intended to provide legal advice. The information is not a substitute for the advice of a qualified bankruptcy attorney. If you need legal assistance, consult an attorney.

Which state's exemption laws apply in your bankruptcy?

MichiganGenerally, the laws of the state in which you lived for the 730 days (2 years) prior to filing a bankruptcy petition will apply in your bankruptcy.

If you have not lived in the same state for the 2 years immediately prior to filing your bankruptcy petition, the laws of the state in which you lived for the majority of the 180-day period preceding the 2-year period will likely apply.

If application of the preceding general rules renders you ineligible for exemptions under any states laws, you may be allowed to choose the federal exemptions applicable in your bankruptcy.

Is Michigan a Community Property State?

No, Michigan is not a community property state. Because it is not a community property state, you will be responsible for your spouses debts only if you voluntarily assumed those debts by, for example, co-signing on a loan given to your spouse. In a non-community property state, one spouse can file for bankruptcy and be eligible to eliminate all of their unsecured debts without the involvement of the other spouse.

How did your senator vote on the new bankruptcy laws?

Following years of intense lobbying by creditors, Congress passed the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA). How did your Senators vote on these largely pro-creditor provisions?

Levin (D-MI) - NAY
Stabenow (D-MI) - YEA

Michigan Bankruptcy Court Locations:

Frank M. Johnson United States Courthouse Complex
One Church Street
Montgomery, Michigan 36104
334-954-3800

Note: You may not have to actually go to one of the above bankruptcy courts. Trustees often conduct your meeting at a local venue.

Although bankruptcy is federal law, the bankruptcy courts in each jurisdiction have local rules that must be followed. A local bankruptcy attorney will be familiar with the specific rules in your area.

Michigan Bankruptcy Attorney Locations:

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Bankruptcy Laws in Your State