Michigan Bankruptcy Laws - Miscellaneous Exemptions:
Michigan Compiled Laws Section 600.6023 provides, in part, that the following items of personal property are exempt: 1) Property of business partnership, 2) Arms & accoutrements you´re required to keep, 3) Tools, implements, materials, stock, apparatus, team, motor vehicle, horse & harness to $1000 total, and 4) 60% of earned but unpaid wages for head of household; else 40$; head of household may keep at least $15 per week plus $2 per week per non-spouse dependent; other may keep at least $10 per week.
Operation of Michigan bankruptcy laws with the Code:
According to 11 U.S.C. 522(l) The debtor shall file a list of property that the debtor claims as exempt under subsection (b) of this section. If the debtor does not file such a list, a dependent of the debtor may file such a list, or may claim property as exempt from property of the estate before the Michigan bankruptcy court. Unless a party in interest objects, the property claimed as exempt on such list is exempt. The trustee, creditors, an interested party, or the court upon it's own motion, may file an objection to exemptions designated within a debtor's schedule. Denial requires notice to debtors and hearing.
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