Mississippi Bankruptcy Laws

Protects up to $75,000 of equity in the debtor's primary residence, up to 160 acres. Must be owned and occupied as primary residence. Married couples filing jointly can each claim the full exemption.

Up to $10,000 cumulative in personal property including motor vehicles, furniture, household goods, clothing, and other personal belongings. Mississippi does not have a separate motor vehicle exemption — vehicles are covered under the personal property umbrella.

Residents age 70 or older may exempt up to $50,000 of any additional property not otherwise exempted. Both spouses in a joint filing may each claim the full $50,000 if both are 70+.

Mississippi has opted out of the federal bankruptcy exemption scheme under 11 U.S.C. § 522(d). Debtors must use Mississippi state exemptions. Federal nonbankruptcy exemptions (Social Security, veterans benefits, etc.) remain available.

75% of disposable earnings are exempt from garnishment (or 30 times the federal minimum wage per week, whichever is greater). Social Security, veterans benefits, unemployment, and public assistance are fully exempt.