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| Bankruptcy
Exemptions Click here to return to the main Bankruptcy Page |
| Federal Bankruptcy Exemptions | ||
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$ 20,200.00 in real property or mobile home equity that is used by the debtor as a residence. | |
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$ 3,225.00 of equity in one motor vehicle. | |
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$ 10,775.00 in household goods, apparel, musical instruments. | |
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$ 1,350.00 in jewelry. | |
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$ 1,075.00 in any property (if the debtor does not own real estate this exemption rises to $9,650.00). |
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$ 2,025.00 in tools and books used in a profession. | |
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Various other miscellaneous exemptions relating to such items as cash surrender value of life insurance, retirement benefits, bodily injury claims. | |
| Massachusetts Bankruptcy Exemptions | ||
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Homesteads in real estate - $500,000.00. Except as to those persons who have not owned their home for the last three years and four months, or who have been convicted on a felony charge, in which case the exemption is limited to $125,000.00. | |
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Individual Retirement Accounts - up to $1 million dollars.. | |
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Value of Life Insurance Policies. | |
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Our office is "debt relief agency" as defined at 11 U.S.C. Sec. 101(12A) We help people file for relief under the Bankruptcy Code.
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| The information contained on this web site is meant to provide some background on the law of the Commonwealth of Massachusetts as of year 2006. It is not meant and cannot possibly substitute for legal advice given by an attorney who has had the opportunity to become fully familiar with the particular facts of your case. |
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Theodore J. Koban - All Rights Reserved |
