Maryland Bankruptcy Exemptions
What property can you keep when filing Chapter 7 in Maryland?
Maryland Homestead Protection
None
Maryland does not provide a separate homestead exemption. Homeowners may use other exemptions or the wildcard to protect home equity.
Maryland Exemption Table
2025/2026 figures — Chapter 7 bankruptcy
How to Claim Exemptions in Maryland
To claim your Maryland bankruptcy exemptions, you must list each exempt asset on Schedule C of your bankruptcy petition. Maryland does not provide a homestead exemption, but does offer a generous wildcard exemption that can be applied to any property. A bankruptcy preparer can help you list your property correctly — all claims are subject to court approval.
How does Maryland compare to other states?
Use the side-by-side comparison tool to see which state offers more protection for your assets.
Frequently Asked Questions
How much home equity can I protect in Maryland bankruptcy?
Maryland does not have a dedicated homestead exemption. Homeowners may be able to protect home equity using other exemptions or the wildcard amount.
Can I keep my car when filing bankruptcy in Maryland?
Maryland's vehicle exemption protects up to $5,000 in car equity. If your car is worth less than this (or your equity after the loan balance is within this limit), you can typically keep it. If you're financing the car, you may also reaffirm the debt to keep it regardless of equity.
Are retirement accounts protected in Maryland bankruptcy?
Yes — Maryland protects Unlimited in qualified retirement accounts. This includes 401(k), 403(b), IRA, and pension accounts. Retirement assets are among the strongest-protected assets in bankruptcy across all 50 states.
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Non-Attorney Notice: JustiPal™ is a document preparation service — not a law firm. Exemption amounts shown are for educational purposes and reflect general 2025/2026 figures. Individual results depend on your specific assets, equity calculations, and applicable state law. Consult a licensed bankruptcy attorney for legal advice specific to your situation.