Michigan Bankruptcy Exemptions

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Does Michigan Adjust Exemptions for Inflation?

2023 INFLATION ADJUSTMENTS FOR BK-ONLY EXEMPTIONS: Under Michigan law, bankruptcy-only exemption amounts are adjusted for inflation on April 1, every three years (starting in 2005) by the Michigan Department of Treasury. These amounts have been adjusted, so the amounts listed in the statutes are not current.  The most recent adjustment was published January 25, 2023 and applies to bankruptcies filed on or after April 1, 2023. Michigan inflation-adjusted exemption amounts for 2023 can be found here or by going to www.michigan.gov/treasury and typing "bankruptcy exemptions" in the search box.

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