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Maine WildCard Exemption

Maine WildCard Exemption

Almost every state has an exemption for "any property" which is sometimes called the "wildcard" or "grubsteak" exemption. Generally this exemption is useful because it can be combined with other exemptions to fully protect equity that might otherwise go unprotected.
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Maine Wage Garnishment
 
Maine Homestead Exemption

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

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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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Maine Wage Garnishment
 
Maine Homestead Exemption

You may also be interested in:

  • Maine Wage Garnishment

    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.

  • Maine Homestead Exemption

    How much of your home equity is protected if you file for bankruptcy in Maine?

  • Does Maine Adjust Exemptions for Inflation?

    The Federal Government adjusts Federal exemption amounts every three years. Does Maine adjust exemption amounts?

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Maine: Law

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