New Mexico Bankruptcy Exemptions

    
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              A detailed listing of state and federal exemption laws, with statutory citations.            

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New Mexico Exemptions Summary:Homestead$150,000 (joint owners may double)
Vehicle ExemptionMotor vehicle to $10,000
Personal PropertyHousehold goods and furnishings to $75,000
Limits:
Firearms (2)
Musical Instruments ($4,000 limit)
Toys, games, sports, craft and hobby equipment ($2500 limit)
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Jewelry to $5,000 
Materials, tools & machinery to dig, drill, complete, operate, or repair oil line, gas well, or pipeline
Tools of trade $15,000
Wild Card$15,000 of any personal property.
$15,000 of exemption in lieu of homestead
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by
		Albin Renauer
	
Albin Renauer has spent his career making consumer law information free and accessible to everyone. In the 1990s Albin worked with Nolo Press to invent WillMaker and LivingTrustMaker and ran Nolo website back in the DotCom era of Y2K.  In 2006, Albin launched LegalConsumer.com and the free Bankruptcy Means Test Calculator. Millions of consumers have used these FREE tools and information to learn about their rights under bankruptcy law.  For more than 30 years, Albin co-authored 22 editions of Nolo's bestselling guide How to File for Chapter 7 Bankruptcy from 1989 to 2023. Albin is currently exploring ways that AI can increase consumers' access to justice.

          Sandoval County, NM Bankruptcy Home 
        
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Sandoval County, NM Bankruptcy ResourcesSandoval County Bankruptcy Means Test CalculatorAutomatically apply the Sandoval County expense standards, and New Mexico income standards to your means test calculation.
Sandoval County Bankruptcy CourtFind where to file if you live in Sandoval County.
New Mexico Bankruptcy Exemption LawsWhat property you can keep under New Mexico and federal exemption laws.
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