Massachusetts Bankruptcy Information

Massachusetts Median Income Standards

Massachusetts Bankruptcy Exemptions

Massachusetts Homestead

Automatic homestead $125,000; Declared homestead $500,000 for property you occupy or intend to occupy (including mobile home); (co-owners may not double) (special rules if over 62 or disabled, may double to 1,000,00).

Vehicle

$7,500; $15,000 if used by elderly or disabled debtor

Wages

85% of gross wages OR 50 times minimum wage per week

Personal property & Tools of Trade

Beds & bedding; heating unit; clothing
Bibles & books to $200 total; sewing machine to $200
Cash for fuel, heat, water, or light to $75 per month
Cash to $200/month for rent, in lieu of homestead
2 cows, 12 sheep, 2 swine, 4 tons of hay
Food or cash for food to $300
Furniture to $3,000;
Trust company, bank, or credit union deposits to $500

WildCard

up to $1,000 plus up to $5,000 unused about of exemptions for automobile, household furnishings, and tools of trade

More info About __ Bankrutpcy Exemptions including citations.

Massachusetts Bankruptcy Courts

Means Test Calculators and Bankruptcy Information for Massachusetts

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