Missouri State Bankruptcy Laws

What Are The Missouri Bankruptcy Exemptions?

MissouriMissouri 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 it's wise to consult with a Missouri bankruptcy attorney to find which of your assets will be protected in a bankruptcy filed in Missouri. In general, the major Missouri bankruptcy exemptions include:

General Missouri Exemptions
Real Estate (the Homestead Exemption)
Up to $15,000 of equity in your homestead can be protected.
Motor vehicles with equity valuing up to $3,000 in the aggregate can be protected.
Other Property
Household furnishings, household goods, clothing, appliances, books, animals, crops or musical instruments not to exceed $3,000 in the aggregate; wedding ring not to exceed $1,500 and other jewelry not to exceed $500; any other property of any kind, not to exceed $600; implements, professional books or tools of the trade of not to exceed $3,000 in value in the aggregate; and any mobile home used as the principal residence but not on or attached to real property owned by the debtor, not to exceed $5,000.
View the complete list: Missouri 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 Missouri bankruptcy attorney. If you need legal assistance, consult an attorney.

Which state's exemption laws apply in your bankruptcy?

MissouriGenerally, 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 Missouri a Community Property State?

No, Missouri 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?

Bond (R-MO) - YEA
Talent (R-MO) - YEA

Missouri Bankruptcy Court Locations:

Thomas F. Eagleton
U.S. Courthouse

111 South Tenth St, Fourth Floor
St. Louis, MO. 63102
(314) 244-4500

801 Broadway
Hannibal, MO. 63401
(573) 221-0757

339 Broadway
Cape Girardeau, MO 63701
(573) 334-6391

United States Courthouse
400 East 9th Street
Room 1800
Kansas City, MO, 64106
(816) 512-1800

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.

Missouri Bankruptcy Attorney Locations:

Missouri bankruptcy attorneys
Chillicothe bankruptcy attorneys
Columbia bankruptcy attorneys
Kansas City bankruptcy attorneys?
Poplar Bluff bankruptcy attorneys
Southwest Missouri bankruptcy attorneys
Springfield bankruptcy attorneys
St. Louis bankruptcy attorneys

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