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State of Michigan Economy:

Michigan’s economy is anchored by the manufacturing, tourism and agriculture industries.

Michigan Bankruptcy Court Locations:

Eastern District of Michigan:

Bay City
111 First St.
Bay City, MI 48708
(989)894-8840

Detroit
211 West Fort Street
Detroit, Michigan 48226
(313) 234-0065

Flint
226 West Second Street
Flint, Michigan 48502

Western District of Michigan:

Grand Rapids
US Bankruptcy Court
1 Division Ave N, Room 200
Grand Rapids, MI  49503

Marquette
202 West Washington Street, 3rd Floor
Marquette, MI  49855

Kalamazoo
410 West Michigan, Room 114
Kalamazoo, MI  49007 

Lansing:
Federal Courthouse
315 West Allegan Street, Room 101
Lansing, MI  48933

Traverse City
Logan Place West
3249 Racquet Club Drive
Traverse City, MI  49684

Commonly-Used Michigan Bankruptcy Exemptions

 

Other Bankruptcy:

⦁ Homestead. Equity up to $40,475. If you are over 65 or disabled, the limit increases to $60,725. The surviving spouse of the owner can claim the exemption. (600.5451(1)(m),(o).)                                
⦁ Motor vehicle. Equity in one vehicle up to $3,725. (600.5451(1)(g).)
Household goods and personal property. Household goods such as furniture, utensils, books, appliances, and jewelry valued up to $625 per item and $4,050 total (600.5451(1)(c)); all clothing, other than furs (600.5451(1)(a)(iii)); $700 in a seat, pew, or slip (600.5451(1)(d)); $2,700 in farm animals, feed, and crops. $700 in household pets (600.5451(1)(f)); $700 in a computer and accessories (600.5451(1)(h)); all family pictures (600.5451(1)(a)(i)).
⦁ Pension and retirement accounts. Most pension and retirement accounts are completely protected. Most individual retirement accounts and annuities, as well as ERISA-qualified pension, profit-sharing, and stock bonus plans, are fully protected except for amounts contributed within the 120 days before filing for bankruptcy (600.5451(1)(j)(k)); traditional, simple, or Roth IRAs are protected up to a particular dollar amount (for the most recent figure, see ⦁ Your Retirement Plan in Bankruptcy) (11 U.S.C. § 522(b)(3)(C)(n)).
⦁ Wages. Up to 60% of earned but unpaid wages for the head of household or $15 per week plus $2 per week for each dependent other than the spouse. Others can protect up to 40% or $10 per week. (600.5311.)
⦁ Insurance benefits. Fully protected regardless of the amount (500.2207); benefits paid on behalf of an employer (500.2210); benefits paid by any stock, mutual life, health, or casualty insurance (600.5451(1)(j)).
⦁ Public benefits. Crime victims’ compensation (18.362); unemployment compensation (421.30); Korean War veterans’ benefits (35.977); Vietnam War veterans’ benefits (35.1027); welfare benefits (400.63); worker’s compensation benefits (418.821).
⦁ Tools of the trade. Up to $2,700 in tools, implements, materials, and other items necessary to carry on your profession, trade, occupation, or business (600.5451(1)(i)).

 

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