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Massachusetts Bankruptcy

Exemption Court
Massachusetts Bankruptcy Exemption
Homestead:
Residence worth $ 500,000 either owned or leased and $ 200 rent per month for the homestead occupied by debtor or his/her dependent.

Household Furniture:
Regular house hold furniture of worth $ 3,000.

Professional Tools:
Tools and implements required for carrying on trade or business up to worth $ 500 and another $ 500 for materials used in trade or business.

Bible and Books:
Up to the extent of $ 200.

Household Goods:
An amount not exceeding $ 125 for each week.
Note: Wages of the seamen are exempted to 100 %.

Family Requirement:
Up to $ 300 for family requirements.

Auto Requirement:
Auto exemption is there for $ 700.

Fishing Tools:
For fishermen fishing tools are exempted up to the extent of $ 500 to the fishermen only.

Sewing Machine:
One sewing machine is exempted not exceeding $ 200 for that.

Disability Payments:
Disability insurance payments are exempted up to the extent of $ 400 per week.

Pension Benefits:
Pension Benefits up to the extent of $ 100 per week.

Bank balance:
Cash in accounts up to the extent of $ 500.

Co-operative Share:
Share in co-operative associations up to the extent of $ 100 in value in total.

Total or Absolute Exemptions for:
  • Specific partnership interest.
  • Unemployment and Workmen's benefits.
  • Public employee's benefits.
  • Public assistance benefits.
  • Military uniforms and accessories are exempted for the militia personnel.
  • Group annuity benefits.
  • Group insurance benefits.
  • Veteran's benefits.
  • Relocation payments.
  • Payroll account funds.
  • Burial plots.

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