Michigan Bankruptcy Exemptions

When you file Chapter 7 bankruptcy, the trustee appointed to your case can take certain of your assets and sell them to pay your creditors. However, some property is exempt under the Bankruptcy Code, meaning that the trustee cannot take it.

At Charles J. Schneider, P.C., our attorneys have been helping individuals in Michigan file for bankruptcy since 1977. We provide a free initial consultation to explain how bankruptcy exemptions would apply to your assets. Our law office is conveniently located in Livonia, Michigan, and we serve clients throughout the Detroit metropolitan area.

What Do I Keep When I File For Bankruptcy?

When you file Chapter 7 bankruptcy in Michigan, you can choose either the Michigan or the federal bankruptcy exemptions. The following is a simplified comparison of the Michigan and federal exemptions. This list is far from exhaustive. For advice about your assets, contact certified bankruptcy lawyer Charles J. Schneider.

Michigan Exemption Federal Exemption
Homestead Equity up to $35,300 (up to $52,925 if you are over age 65 or disabled)Up to $21,625 per debtor; $43,250 for joint debtors (husband and wife)
Household goods, clothing and jewelry Up to $550 per item, up to $3,525 total for household goods & jewelry; clothing is unlimitedUp to $575 per item, up to $11,525 total for household goods and clothing and up to $1,450 in jewelry
Automobile Up to $3,250Up to $3,450
Tools and materials needed for occupation Up to $2,350Up to $2,175
Retirement savings Most are protectedMost are protected
Wildcard exemption


$1,150 for any property
Unused homestead exemption


If you don't use the full $21,625 homestead exemption for home equity, you can apply the unused portion (up to $10,825) to other property.

If you have assets that you would lose under a Chapter 7 bankruptcy filing, you may be able to keep those assets by filing Chapter 13 bankruptcy.

Homestead Exemption Attorneys Serving Westland And Metro Detroit

For more information about federal or Michigan bankruptcy exemptions, call 734-237-1523 or fill out the contact form on this website. We offer evening and weekend appointments.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.