Michigan Bankruptcy Exemption Limits Adjusted Upward 7% on April 1, 2014

Under Michigan law, exemption amounts stated in the bankruptcy exemptions found in MCL section Mich. Comp. Laws § 600.5451 are adjusted for inflation, on April 1 of every three years since 2005. Adjustments have been made in 2008, 2011, and now 2014.

The new amounts for 2014 are about 7% higher than the old amounts, but rounded to the nearest $25.

The new amounts have been integrated into the LegaConsumer.com Michigan bankruptcy exemption listings found here.

The official document announcing the Michigan inflation adjustments can be found here or here

 

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