Mississippi Bankruptcy

If you feel overwhelmed by bills and are having a hard time making ends meet, consider talking to a Mississippi bankruptcy attorney about your options.

Connect to a Mississippi bankruptcy lawyer today—for free—by entering your ZIP code below and completing our 2-minute bankruptcy evaluation form. Make the first move right now.

Filing Chapter 7 Bankruptcy in Mississippi

If you live in the state of Mississippi and are thinking about filingChapter 7 bankruptcy, you may be curious about the state’s bankruptcy exemptions. A Mississippi Chapter 7 bankruptcy lawyer may be able to help you find out which of your property may be exempt from Chapter 7 liquidation.

Mississippi Bankruptcy Laws

Chapter 7 bankruptcy is often referred to as “liquidation” bankruptcy because the bankruptcy trustee can sell a debtor’s non-exempt assets to repay his or her unsecured debts, such as credit cards and medical bills.

But don’t panic–most people who file Chapter 7 bankruptcy don’t have any non-exempt assets and are allowed to keep all of their property.

Mississippi Bankruptcy Exemptions

The following information is a basic primer on Mississippi Chapter 7 exemptions. To get more specific information about your case, contact a Mississippi bankruptcy attorney today.

Important Chapter 7 bankruptcy exemptions in the state include:

Homestead:

• $75,000 for land and buildings not exceeding 160 acres.
• $30,000 for one mobile home or manufactured home used as primary residence.

Wages: 100 percent of gross earnings for 30 days and 75 percent of gross earnings thereafter.

Personal Property:

• Up to $10,000 cumulative value of the following: Household goods, clothes, books, animals, crops, motor vehicles, implements, professional books, tools of the trade, cash on hand and professionally prescribed health aids.
• Any tangible item worth less than $200.

Questions? Talk to a Mississippi Chapter 7 Bankruptcy Lawyer

Mississippi Chapter 7 bankruptcy exemptions can be specific. A Mississippi bankruptcy attorney can explain how they could play a part in your Chapter 7 bankruptcy case.

We make it easy to get in touch with a local Mississippi bankruptcy lawyer. Simply fill out our free bankruptcy evaluation form or give us a call at 877-226-6844 and we’ll quickly connect you with a Mississippi Chapter 7 bankruptcy lawyer nearby.

Note: Keep in mind all laws are complex. If you need legal advice or want to fully understand how these laws affect you, please speak with a local attorney.

Laws may have changed since our last update. For the latest information on your state’s bankruptcy laws, speak to a local bankruptcy lawyer.