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Bankruptcy in Mississippi: Exemptions and Filing Guide

State-specific bankruptcy exemptions and filing information for Mississippi. These exemptions determine what property you can keep when filing Chapter 7 bankruptcy.

Data last updated: Jan 15, 2025

Key Takeaways

  • Homestead exemption: $75,000 (up to 160 acres).
  • Vehicle exemption: No specific exemption (use personal property exemption).
  • Must use state exemptions (no federal option).
  • Attorney fees: $1,000–$1,500 (Ch. 7) / $2,500–$3,500 (Ch. 13) typical.
$75,000 (up to 160 acres) Homestead exemption
No specific exemption (use personal property exemption) Vehicle exemption
No Federal option
$338 (Chapter 7) / $313 (Chapter 13) Filing fee

Mississippi Bankruptcy Exemptions

  • Homestead$75,000 (up to 160 acres)
  • VehicleNo specific exemption (use personal property exemption)
  • Personal property$10,000 in personal property
  • WildcardNone
  • Federal exemptionsNot available

Means Test: Mississippi Median Income

To qualify for Chapter 7 in Mississippi, your income must be below the state median or you must pass the means test showing no disposable income for creditors.

  • 1 person$44,800
  • 2 people$56,400
  • 3 people$62,700
  • 4 people$73,100

Filing Costs

  • Court filing fee$338 (Chapter 7) / $313 (Chapter 13)
  • Typical attorney fee$1,000–$1,500 (Ch. 7) / $2,500–$3,500 (Ch. 13)
  • Court districtsNorthern and Southern Districts of Mississippi

Mississippi bankruptcy court

Related Resources

Frequently Asked Questions

  • What is the homestead exemption in Mississippi?

    Mississippi allows up to $75,000 on up to 160 acres of property used as a residence.

  • Does Mississippi have a vehicle exemption?

    Mississippi does not have a specific vehicle exemption. A vehicle may be partially protected using the $10,000 personal property exemption.

  • Can I use federal exemptions in Mississippi?

    No. Mississippi requires the use of state exemptions.

  • What income qualifies for Chapter 7 in Mississippi?

    Mississippi has one of the lowest median incomes in the country, meaning the income threshold for Chapter 7 qualification is lower than most states.

Legal Disclaimer: FreeNetLaw provides general legal information, not legal advice. The information on this site is not a substitute for consultation with a licensed attorney. Laws vary by jurisdiction and change frequently. Always verify information with official sources and consult a qualified attorney for advice about your specific situation.

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