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Smith County, MS Bankruptcy Guide

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Automatically apply the Smith County expense standards, and Mississippi income standards to your means test calculation.

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Mississippi Bankruptcy Exemptions

Mississippi Exemptions Summary:

Homestead

Property you own & occupy to $75,000; if over 60 and married or widowed may claim a former residence; property cannot exceed 160 acres; sale proceeds exempt
Mobile home (as personal property) to $30,000 (Mobile home does not qualify as homestead unless you own land on which it is located)

Vehicle Exemption

No specific exemption

Personal Property

Tangible personal property to $10,000: any items worth less than $200 each; furniture, dishes, kitchenware, household goods, appliances, 1 radio & 1 TV, 1 firearm, 1 lawnmower, clothing, wedding rings, motor vehicles, tools of the trade, books, crops, health aids, domestic animals (does not include works of art, antiques, jewelry, or electronic entertainment equipment)

Wild Card

$50,000 of any property, whether real, personal or mixed, tangible or intangible, including deposits of money, available to any Mississippi resident who is 70 years of age or older.

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