MI Bankruptcy Exemptions
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FEDERAL BANKRUPTCY EXEMPTIONS ARE AVAILABLE
All Bankruptcy law references are to Michigan Compiled Law Annotated unless otherwise noted. |
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ASSET |
EXEMPTION |
LAW PROVISION |
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HOMESTEAD
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Real property including condo to $37,775 (if over 65 or disabled, up to $56,650) property cannot exceed 1 lot in town, village, city, or 40 acres elsewhere
Spouse or child of deceased owner may claim homestead exemption
Property held as tenancy by the entirety may be exempt against debts owed by only one spouse |
600.5451
SNB Bank & Trust v. Kensey, 378 N.W. 2d 594 (Ct. App.Mich. 1985) |
|
INSURANCE |
Disability, mutual life or health benefits
Fraternal benefit society benefits
Life, endowment or annuity proceeds if clause prohibits proceeds from being used to pay beneficiary’s creditors |
600.6023(1)(f)
500.8181
500.4054 |
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MISCELLANEOUS |
Property of business partnership |
449.25 |
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PENSIONS |
Firefighters, police officers
ERISA-qualified benefits
IRAs
Judges
Legislators
Probate Judges
Public school employees
State employees |
38.559(6)
600.6023(1)(k)
600.6023(1)(l)
38.825
38.1057
38.925
38.1346
38.40 |
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PERSONAL PROPERTY |
Appliances, utensils, books, furniture & household goods to $3,775 total
Motor Vehicle to $3,475.00
Building & loan association shares to $1,075 par value, in lieu of homestead
Burial plots, cemeteries; church pew, slip, seat to $650
Clothing; family pictures
Computer and accessories, up to $650
Household Pets to $650
Food & fuel to last 6 months if you're a head of household |
600.6023(1) |
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PUBLIC BENEFITS |
AFDC
Crime victim’s compensation
Social welfare benefits
Unemployment compensation
Veterans’ benefits for Korean War veterans
Veterans’ benefits for Vietnam veterans
Veterans’ benefits for WWII veterans
Workers’ compensation |
330.1158a
18.362
400.63
421.30
35.977
35.1027
35.926
418.821 |
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TOOLS OF TRADE |
Arms & accoutrements you’re required to keep
Tools, implements, materials, stock, apparatus, team, motor vehicle, horse & harness to $2,525 total |
600.6023(1)(a)
600.6023(1)(e) |
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WAGES |
60% of earned but unpaid wages for head of household; else 40%; head of household may keep at least $15 per week plus $2 per week per non-spouse dependent; other may keep at least $10 per week |
600.5311
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WILD CARD |
NONE |
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Bankruptcy Courts
See the list below for Bankruptcy Courts by District. Click on the District link to go directly to that Bankruptcy Court's web site.
| BANKRUPTCY COURTS |
NUMBER OF COPIES |
Eastern District
Detroit Division
211 W. Fort Street, 21st Floor
Detroit, MI 48226
Telephone: (313) 234-0065
Bay City Division
P.O. Box 911 (48707)
111 1st Street
Bay City, MI 48708
Telephone: (517) 894-8840
Flint Division
226 W. 2nd Street
Flint, MI 48502
Telephone: (810) 235-4126
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contact clerks office |
Western District
Grand Rapids Division
P.O. Box 3310 (49501)
110 Michigan Street, N.W
Grand Rapids, MI 49503
Telephone: (616) 456-2693
Marquette Division
P.O. Box 909
202 West Washington St. Room 314
Marquette, MI 48955
Telephone: (906) 226-2117
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contact clerks office
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