Maine Wildcard Exemption -- $6,400 Maximum

The state bankruptcy exemption charts in How to File for Chapter 7 Bankruptcy, The New Bankruptcy, and Chapter 13 Bankruptcy: Keep Your Property and Repay Debts Over Time, incorrectly state the nature of the wildcard exemption.

The Maine Bankruptcy Exemptions chart states that you can put the following amounts towards any type of property:

  • any unused portion of the homestead exemption, up to $6,000
  • any unused exemption amounts for certain listed categories (such as animals, crops, musical instruments, etc), and
  • $400.

This is incorrect. Below is the wildcard exemption law in Maine.

  • You can apply any unused portion of the homestead exemption, up to $6,000, to the following types of property only: animals, crops, musical instruments, books, clothing, furnishings, household goods, appliances, jewelry, tools of the trade, and personal injury recoveries. Maine Rev. Stat. Ann. tit. 14, §4422(16).
  • You can exempt $400 of any type of property. Maine Rev. Stat. Ann. tit. 14, §4422(15).