Missouri 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. Missouri law provides a number of exemptions that protect your property, and your Missouri TotalBankruptcy.com attorney will be able to advise you on which exemptions are best for you.
Homestead
$15,000 homestead exemption.
Wages
For head of household, 90 percent of gross earnings; for all other debtors, 75 percent of gross earnings.
Automobiles
Motor vehicles not to exceed $3,000 in the aggregate.
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.
» Read the complete Missouri 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.