At Davis & Davis, PLLC, we understand that many Mississippi residents worry that filing for bankruptcy means losing their home or car. Mississippi bankruptcy exemptions are designed to protect your most important property so you can secure a fresh financial start. With decades of experience guiding clients through Chapter 7 and Chapter 13 cases, our trusted bankruptcy attorneys help make the process easy and stress-free. This 2025 guide explains how exemptions and protections work in Mississippi and how Davis & Davis, PLLC supports you every step of the way.
Mississippi requires you to use its state exemption list, using rules detailed in the Mississippi Code, Title 85, Chapter 3. The right exemptions allow you to protect your home, vehicle, household goods, and more from creditors in both Chapter 7 and Chapter 13 bankruptcy.
Yes, many Mississippi homeowners are able to keep their primary residence when filing for bankruptcy, thanks to the state’s homestead exemption. Under Mississippi Code § 85-3-21, you can protect up to $75,000 in equity in your home or up to 160 acres of land, as long as the property is owned and occupied as your primary residence.
This exemption:
Yes, most Mississippi residents can keep their car when filing for bankruptcy by using the state’s personal property exemption found in Mississippi Code § 85-3-1. This law allows you to protect up to $10,000 in total personal property, which includes motor vehicles, household items, tools, and more.
You can protect up to $75,000 in equity or 160 acres of residential land through the Mississippi homestead exemption, as long as it’s your primary residence.
Mississippi allows up to $10,000 per filer in personal property, including vehicles, furniture, and other belongings, under the personal property exemption.
Most tax-qualified retirement accounts — such as 401(k)s, pensions, and IRAs — are fully protected under 11 U.S. Code § 522, as long as they meet IRS requirements. Employer-sponsored plans governed by ERISA receive additional federal protection from creditors.
Social Security benefits are fully protected from creditors and bankruptcy under federal law, meaning they cannot be seized, garnished, or included in a bankruptcy estate. Other public benefits like unemployment and disability compensation are also generally exempt under 11 U.S. Code § 522(d)(10).
Unsure What Qualifies?
If you’re not sure what qualifies for protection, schedule a FREE bankruptcy consultation with Davis & Davis, PLLC. We’ll help you identify which assets are safe and how to maximize your exemptions based on the latest Mississippi laws.
| Feature | Chapter 7 | Chapter 13 |
| Type | Liquidation | Repayment Plan (3–5 years) |
| Home/Car | Keep if exempted | Catch up on payments and keep |
| Payment Plan? | No | Yes, must pay back arrears on secured debts |
| Speed | About 3–4 months to discharge | 3–5 years until discharge |
| Who Qualifies? | Must pass means test (under income threshold) | Regular income sufficient to make plan payments |
Which Option Is Right for You?
Chapter 7 is often the faster route to debt relief, especially if you have limited assets that fall within exemption limits. Chapter 13 may be a better fit if you're trying to save your home or car and need time to catch up on payments. Consult a Bankruptcy Attourney to find the best solution for you.
Exemption laws in Mississippi determine which assets you can legally shield from creditors during bankruptcy — from homes and cars to retirement accounts. These protections are built into the state code and play a critical role in the outcome of both Chapter 7 and Chapter 13 filings.
At Davis & Davis, PLLC, our experienced Mississippi bankruptcy attorneys work closely with you to understand your financial goals and protect the assets that matter most. We’ll help you:
Your path to financial freedom starts with a FREE, no-obligation bankruptcy consultation. We’re here to guide you every step of the way, with clarity, compassion, and confidence.
Can I keep my house if I file Chapter 7 bankruptcy in Mississippi?
Yes. Mississippi’s homestead exemption protects up to $75,000 in equity as long as it’s your primary residence.
Will I lose my car if I file for bankruptcy?
Typically not.
What assets are protected in a Mississippi bankruptcy?
You may be able to protect your home, car, household items, retirement accounts, and public benefits if their values fall within the state’s exemption limits.
Bankruptcy isn’t about losing everything, it’s about building a path forward. With the right legal guidance, you can keep your home, your car, and your peace of mind. Davis & Davis, PLLC is here to help Mississippi residents make informed, confident decisions about debt relief.
Contact Davis & Davis, PLLC today at (228) 275-9922 for a FREE Bankruptcy Consultation, and take the first step toward lasting financial freedom.
