Mississippi State Bankruptcy Exemptions
Laws That Keep Your Creditors' Hands Off Your Property
Exemptions are laws passed by every state that allow you to protect certain types of your property from your creditors when you file bankruptcy-such as your home, car, pensions and IRAs, motor vehicles, clothing, tools, and other important property. Mississippi law provides a number of exemptions that protect your property, and your Mississippi TotalBankruptcy.com attorney will be able to advise you on which exemptions are best for you.
Homestead
$75,000 exemption for land and buildings; one mobile or manufactured home used as a primary residence in the amount of $20,000.
Wages
100 percent of gross earnings for 30 days; 75 percent of gross earnings thereafter.
Automobiles
No specific automobile exemption.
Other Property
Tangible personal property of the following kinds not exceeding $10,000.00 in cumulative value: household goods, wearing apparel, books, animals or crops, motor vehicles, implements, professional books or tools of the trade, cash on hand, and professionally prescribed health aids; and any item of tangible personal property worth less than $200.
» Read the complete Mississippi bankruptcy exemptions here.
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Please understand that this information is provided for illustration purposes only and is not legal advice. If you would like more information about exemptions, please call our 24-hour toll free hotline at 1 (877) 349-1309 or use our free online evaluation form to get started with your bankruptcy case today!
Note: Laws may have changed since our last update. For the latest information on your state’s bankruptcy laws, speak to a local bankruptcy lawyer.