This page provides general legal information and calculation tools, not legal advice. DocketMath is not a law firm and does not provide legal representation, and using this site does not create an attorney-client relationship. Laws change and exceptions apply, so deadlines and amounts specific to your situation should be confirmed with a licensed attorney in your jurisdiction.

Bankruptcy Exemption in Massachusetts

Massachusetts law sets the exemption amount for certain personal property at 85 percent of the fair market value of the property, as specified under Mass. Gen. Laws ch. 188, § 1. This rule applies to the statutory exemption for household goods, furnishings, and similar personal property, meaning a debtor may retain that percentage of the property’s value free from creditor claims. The statute also provides for additional exemptions and sets out factors that affect the calculation, but the precise application depends on the type of property and the debtor’s circumstances. The worked example below illustrates how the 85 percent figure is applied in practice. To estimate your own exemption, use the DocketMath calculator with your specific property values.

Governing authority

In Massachusetts, the bankruptcy exemption rule is set by Mass. Gen. Laws ch. 188, § 1. The verified packet cites Mass. Gen. Laws ch. 188, § 1 (https://malegislature.gov/Laws/GeneralLaws/PartII/TitleI/Chapter188/Section1).

Massachusetts bankruptcy exemption: the verified value is 85% under Mass. Gen. Laws ch. 188, § 1. The verified packet cites Mass. Gen. Laws ch. 188, § 1 (https://malegislature.gov/Laws/GeneralLaws/PartII/TitleI/Chapter188/Section1).

Estimate your own result: every situation has exceptions that can change the outcome. Use the bankruptcy exemption calculator to estimate your specific figure.

This page provides general legal information and calculation tools, not legal advice. DocketMath is not a law firm and does not provide legal representation, and using this site does not create an attorney-client relationship. Laws change and exceptions apply, so deadlines and amounts specific to your situation should be confirmed with a licensed attorney in your jurisdiction.