Montana Bankruptcy Laws

Homestead

Homestead consisting of mobile home or dwelling in which debtor resides and land on which it is located, a written declaration of homestead must be recorded with county clerk. This includes noticeable proceeds for 18 months after sale.

Household Goods

Household furnishing goods, appliances, jewelry, wearing apparel, books, firearms, sporting goods, animals, feed, crops and musical instruments exempted up to the extent of $ 600 per item and $ 4,500 aggregate value.

Automobile

One motor vehicle up to the worth of $ 2,500.

Household goods

Household goods and furniture, any personal property held primarily for the debtor himself/herself or any dependent up to the extent of $ 2,000.

Professional Items

Implements, professional books, tools of trade of debtor or dependent are exempted up to the extent of $ 3000.

Life Insurance

Unmatured life insurance contracts up to the extent of $ 4,000.

Wages

Aggregate net earnings of debtor 75 % or 30 times the federal minimum hourly wage per week, whichever is greater.

Cooperative Salary

Salaries in cooperative associations up to the extent of $ 500 par value.

Disability Insurance Proceeds

Disability insurance proceeds up to $ 350 per month.

Total or Absolute Exemptions for