Montana Bankruptcy

What Are The Montana Bankruptcy Exemptions?

Montana law protects all or a portion of your property from being seized by creditors or the bankruptcy trustee in a Chapter 7 bankruptcy. In a Chapter 13 bankruptcy, you are generally allowed to keep all of your assets and property. Certain exceptions may apply, so its wise to consult with a Montana bankruptcy attorney to find which of your assets will be protected in a bankruptcy filed in Montana. In general, the major Montana bankruptcy exemptions include:

Real Estate (the Homestead Exemption)
Up to $100,000 of equity in your homestead can be protected.
One motor vehicle valuing up to $2,500 can be protected.
Other Property
A total of $4,500 in aggregate value, not exceeding $600 in any one item, of household furnishings and goods, appliances, jewelry, wearing apparel, books, firearms and other sporting goods, animals, feed, crops, and musical instruments; and up to $3,000 in aggregate value of any implements, professional books, and tools of the trade.
View the complete list of Montana bankruptcy exemptions

Please remember that this page provides general information only, and is not intended to provide legal advice. The information is not a substitute for the advice of a qualified bankruptcy attorney. If you need legal assistance, consult an attorney.

Which state’s exemption laws apply in your bankruptcy?

Generally, the laws of the state in which you lived for the 730 days (2 years) prior to filing a bankruptcy petition will apply in your bankruptcy.

If you have not lived in the same state for the 2 years immediately prior to filing your bankruptcy petition, the laws of the state in which you lived for the majority of the 180-day period preceding the 2-year period will likely apply.

If application of the preceding general rules renders you ineligible for exemptions under any states laws, you may be allowed to choose the federal exemptions applicable in your bankruptcy.

Is Montana a Community Property State?

No, Montana is not a community property state. Because it is not a community property state, you will be responsible for your spouses debts only if you voluntarily assumed those debts by, for example, co-signing on a loan given to your spouse. In a non-community property state, one spouse can file for bankruptcy and be eligible to eliminate all of their unsecured debts without the involvement of the other spouse.

How did your senator vote on the new bankruptcy laws?

Following years of intense lobbying by creditors, Congress passed the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA). How did your Senators vote on these largely pro-creditor provisions?

Baucus (D-MT) – NAY
Burns (R-MT) – YEA

Montana Bankruptcy Court Locations:

U.S. Bankruptcy Court District of Montana,
Mike Mansfield Federal Building and U.S. Courthouse

400 North Main Street
Rm. 303
Butte, MT 59701
(406) 497-1243

Note: You may not have to actually go to one of the above bankruptcy courts. Trustees often conduct your meeting at a local venue.

Although bankruptcy is federal law, the bankruptcy courts in each jurisdiction have local rules that must be followed. A local bankruptcy attorney will be familiar with the specific rules in your area.

Montana Bankruptcy Attorney Locations:

Looking for a Montana bankruptcy attorney?
Looking for a Bozeman, Montana bankruptcy attorney?

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