Cumberland County, ME Bankruptcy Law

Portland, Maine 04101
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Filing Bankruptcy In Cumberland County, ME

While bankruptcy is federal law, many aspects, like exemptions involve state law, and —in the case of the means test — each county in Maine is assigned its own housing expense standards.

We're here to help you navigate these layers of federal, state, and local rules that come into play when you file bankruptcy in Cumberland County, ME.

LegalConsumer.com's "Bankruptcy By Zip Code" website has provided free, local bankruptcy information to more than 10 million consumers since 2006! Let us help you learn how bankruptcy works in Cumberland County, ME. 


How to File 

Means Test

  • Free Means Test Calculator: Are you eligible for Chapter 7? This calculator will help you find out. Online since 2006. Updated with May 15, 2024 income & expense standards. 
  • Local Standards:  Maine and Cumberland County: Every state and county differs.
  • Line by Line Help Just the bits you need when needed. 

Bankruptcy Court


Maine Bankruptcy Exemptions

  • Schedule C:  The form where you claim your property as exempt.
  • Federal Bankruptcy (§522) Exemptions: 19 states allow you to use the Federal Bankruptcy Exemptions listed in 11 USC § 522. The remaining states have "opted out" and only allow you to use the state law exemptions. 
    • Can use the Federal Bankruptcy (§522) exemptions in Maine? 

      No. Me. Rev. Stat. Ann. tit. 14, § 4426.

  • Maine Exemptions
  • Real Estate
    • Your Home (Maine Homestead Exemption): 
      • Real or personal property (including cooperative) used as residence to $80,000; if debtor has minor dependents in residence, to $160,000; if debtor over age 60 or physically or mentally disabled, $160,000 (joint debtors in this category may double); proceeds of sale exempt for six months

  • Personal Property:
    • Car/Truck/Van: Most states explicitly exempt motor vehicles. In some states, it's pretty generous. 
      • $10,000

    • Tools of Your Trade: From delivery vans to shop tools, most states allow you to exempt tools you use for your work, up to a certain amount.
    • Wildcard
      • $400, in any property
        Unused portion of exemption in homestead to $6,000; or unused exemption in animals, crops, musical instruments, books, clothing, furnishings, household goods, appliances, tools of the trade, & personal injury recoveries

  • Financial Accounts & Cash

Types of Debt

  • Secured Debts: Bankruptcy doesn't get rid of secured debts, but in some cases, it can greatly reduce them. When you file, you'll be asked what you plan to do about your secured debts. Your options are:  -
    • Surrender: Give back the property and wipe out any remaining deficiency balance in bankruptcy. 
    • Redeem: - Come up with the cash to buy the property outright at its current value.. 
    • Reaffirm: - Keep the arrangement you have, and leave this debt unaffected by your bankruptcy.
    • Common Types of Secured Debts:
  • Unsecured Debts: Most unsecured debts, like credit cards and medical debts, can be discharged in bankruptcy.
    • Credit Card Debt
    • Medical Debt
    • Personal Loans
    • Payday loans
  • Unsecured Debts that require extra steps:

Lawyers Near Me


Note: This website is updated as time permits. It is up to you to contact your local court and confirm and update any information you need. Information is not advice. See a bankruptcy lawyer for advice about how the law relates to your situation.




Cumberland County, ME
Bankruptcy by Zip Code

Consumer Protection
Consumer Protection Laws

Basics
Bankruptcy Basics

How to File
How To File Bankruptcy

Courts
Maine District Bankruptcy Court Info

Forms
Bankruptcy Forms

Means Test
Means Test Calculator
Income & Expenses

Debts
Debts & Dischargeability

Student Loans
Student Loans

Exemptions
Property, Exemptions & Liens

Exemptions
Exemptions By Category

BK Exemptions FAQ
Bankruptcy Exemptions FAQ

Lawyers
Bankruptcy Lawyers & Other Help

News
Bankruptcy News



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