On August 20, 2012, the United States Court of Appeals for the Sixth Circuit ruled that bankruptcy filers in in Michigan may use Michigan’s set of bankruptcy-only exemptions. The decision (in In re Schafer, 2012 WL 3553294 (6th Cir. August 20, 2012)) is good news for those filing for bankruptcy in Michigan.
This decision reversed the 2011 Sixth Circuit Bankruptcy Appellate Panel’s ruling in 2011 that bankruptcy-specific exemptions (found in Mich. Comp. Laws §600.5451) were unconstitutional.
To learn more, see the blog post 6th Circuit Says Michigan Debtors Can Use Bankruptcy-Only Exemptions.