MICHIGAN BANKRUPTCY LAW
Michigan Bankruptcy: Attorneys, Statistics, Exemptions and Courts.
Michigan Bankruptcy Statistics: In 2009, in Michigan, 69,346 bankruptcies were filed. Business Bankruptcies accounted for 2,081 of the total or only 3% of bankruptcies, the other 97% were personal bankruptcies.
Michigan State Bankruptcy Exemptions
In Michigan there is no specific exception for a debtor’s home (“homestead”). However, if married couples own their home as a tenancy by the entirety and only one of the spouses is the debtor, the home may be exempt.
The following items are exempt in their entirety:
The following items are exempt up to $475 per item or for a total of $3,200:
The following items are exempt subject to limitations:
In Michigan, the following insurance policies are exempt in their entirety:
Federal pension exemptions apply in Michigan.
IRAs, Roth IRAs and ERISA-qualified pensions are exempt with one limitation: The contributions made within 120 days of filing bankruptcy in Michigan are not exempt.
The following individuals’ and their survivors’ benefits are exempt:
The following public benefits are exempt in their entirety when filing for bankruptcy in Michigan:
Tools of the Trade
Motor vehicles, tools, implements, materials, apparatus, stock, team, horse and harness are exempt for a total of $1,000.
Unpaid wages are exempt at 60% of the weekly earnings, but not less than $15 per week. Additional $2 per week is exempt for each non-spouse dependent.
When filing for bankruptcy in Michigan, property belonging to a business where the debtor is a partner is exempt.
Federal Bankruptcy Exemptions: Yes
Michigan Bankruptcy Courts:
United States Bankruptcy Court in the Eastern District of Michigan has jurisdiction in the following counties: Alcona, Alpena, Arenac, Bay, Cheboygan, Clare, Crawford, Genesee , Gladwin, Gratiot, Huron, Iosco, Isabella, Jackson, Lapeer, Lenawee, Livingston, Macomb, Midland, Monroe, Montgomery, Oakland, Ogemaw, Oscoda, Otsego, Presque Isle, Roscommon, Saginaw, Saint Clair, Sanilac, Shiawassee, Tuscola, Washtenaw, Wayne.
United States Bankruptcy Court in the Western District of Michigan has jurisdiction in the following counties: Alger, Allegan, Antrim, Baraga, Barry, Benzie, Berrien, Branch, Calhoun, Cass, Charlevoix, Chippewa, Clinton, Delta, Dickinson, Eaton, Emmet, Gogebic, Grand Traverse, Hillsdale, Houghton, Ingham, Ionia, Iron, Kalamazoo, Kalkaska, Kent, Keweenaw, Lake, Leelanau, Luce, Mackinac, Manistee, Marquette, Mason, Mecosta, Menominee, Missaukee, Montcalm, Muskegon, Newaygo, Oceana, Ontonagon, Osceola, Ottawa, Saint Joseph, Schoolcraft, Van Buren, Wexford.