kelliedn

Can I make these items exempt somehow

Recommended Posts

mm Not the end of the world if I can't, but I am considering filing BK7 and based on the Michigan law almost everything I have will be exempt.  I live in a mobile home worth around $6000.00 and I have a 2006 Vehicle worth around $2000.00

The couple of items I am wondering about include A. My minor sons laptop, B. My 9 mm handgun and C. My Echo/Alexa devices.

Can I roll these items into household if I am under the $3000.00 outside of that or will these items be sold off?

Share this post


Link to post
Share on other sites

http://www.legislature.mi.gov/(S(5ttmy2ku0ixhlzwbn1tg0wmc))/mileg.aspx?page=GetObject&objectname=mcl-600-5451

 

State of Michigan exemptions in link

(ii) Arms and accoutrements required by law to be kept by a person. (I am not required to keep my firearm, it is for personal protection only)

(c) The interest, not to exceed a value of $450.00 in each item and an aggregate value of $3,000.00, in household goods, furniture, utensils, books, appliances, and jewelry.

(h) The interest, not to exceed $500.00 in value, in 1 computer and its accessories.

Share this post


Link to post
Share on other sites

Hmmm, I'm thinking I may be better off using the Federal exemption rather than the state since  my home and vehicle values are so low.  Household is much higher and also has a wild card expemption? for the Federal?  That would save my gun right? 

Share this post


Link to post
Share on other sites
2 hours ago, kelliedn said:

I know I"m talking to myself.  I guess I'm working it out on here! lol!

I do the same thing but by actually talking to myself.  Sometimes verbalizing or writing it out can help make issues a little clearer.  :)

Of course, when one talks to herself such as I do, one must be careful not to do so in public.  :urcrazy:

 

  • Haha 1

Share this post


Link to post
Share on other sites

I am almost done with the paperwork for chapter 7.  Pretty proud of myself, although my case is pretty easy.  I did go with the Federal exemptions and that took care of all my personal property.  I have nothing available to liquidate.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.