Updated: 2021-03-09 by
State Law Wildcard Exemption
$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
Federal Bankruptcy Wildcard Exemptions
The Federal Bankruptcy Exemptions are available to you if
- you haven't lived in any state longer than 180 days for a while, or
- if your state allows the Federal exemptions as a choice.
Does Maine allow debtor the option of using the Federal Bankruptcy exemptions instead of state law exemptions?
No. Me. Rev. Stat. Ann. tit. 14, § 4426.
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Wages are protected by federal non bankruptcy law, and by state wage garnishment laws, which are generally more generous than the Federal wage garnishment protection. There are typically exceptions to this exemption for things like child support, and other priority debts.
How much of your home equity is protected if you file for bankruptcy in Maine?
The Federal Government adjusts Federal exemption amounts every three years. Does Maine adjust exemption amounts?