Can a motor vehicle be exempt from bankruptcy in Missouri?

Motor vehicle exemptions depend on if you are filing for bankruptcy with a spouse or as an individual. For joint filers in Missouri, a motor vehicle may be exempt up to $6,000. For individual filers, a motor vehicle may be exempt up to $3,000.

What can you file for bankruptcy on in Missouri?

She owes the dealer $10,000, leaving $2,000 of equity. She can file for bankruptcy in Missouri and use the $3,000 motor vehicle exemption to protect her vehicle fully. Up to $3,000 of value in furniture, clothing, books, crops, appliances, animals, and instruments.

How much equity can you exempt from Missouri bankruptcy?

In Missouri, you can exempt up to $15,000 of equity in the real estate in which you live or will live, or up to $5,000 of equity in a mobile home in which you live. Joint owners may not double the exemption. Mo. Rev. Stat. § § 513.430.1 (6), 513.475

What are the exemptions for joint filers in Missouri?

For joint filers in Missouri, a motor vehicle may be exempt up to $6,000. For individual filers, a motor vehicle may be exempt up to $3,000.