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Michigan WildCard Exemption

Michigan 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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Michigan Wage Garnishment
 
Michigan Homestead Exemption

Updated: 2021-03-09 by

State Law Wildcard Exemption

None

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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 Michigan allow debtor the option of using the Federal Bankruptcy exemptions instead of state law exemptions?

Yes. Michigan residents can use the Federal or State exemption systems.

Michigan has passed a special set of exemptions designed only to be used in bankruptcy cases (found in Section 600.5451). Although debtors can use the the exemptions in Michigan's "bankruptcy only" exemption statute, as well as ANY OTHER exemptions found in other Michigan statutes, such as exemptions for life insurance. (See In re Sasasak, 426 B.R. 680.)

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Michigan Wage Garnishment
 
Michigan Homestead Exemption

You may also be interested in:

  • Michigan 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.

  • Michigan Homestead Exemption

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

  • Does Michigan Adjust Exemptions for Inflation?

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

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Michigan: Law

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