Mississippi Laws on Wage Garnishments, Statute of Limitations on Debt and Bankruptcy Property Exemptions

WAGE GARNISHMENT EXEMPTION:  Federal law applies

MAXIMUM INTEREST RATE:  Legal: 8%  Judgment: Contract rate or court decides

STATUTE OF LIMITATIONS ON ENFORCEMENT:

Open Account (credit card):  3 years 
Written Contract: 3 years
Domestic Judgment: 7 years
Foreign Judgment: 7 years (3 years if resident) 

BAD CHECK LAW DAMAGES:  If check amount $25 or less, double amount of check;  if check amount $25.01 to $200, check amount plus 50% of check amount; if check amount above $200, check amount plus 25% of check amount

MISSISSIPPI BANKRUPTCY PROPERTY EXEMPTIONS (Mississippi Code):

Cannot use federal exemptions, but can claim the federal non-bankruptcy exemptions

The State of Mississippi exempts the property and income below from seizure by the bankruptcy court to pay creditors:

Real Property:  Property used as residence up to $75,000, but property cannot exceed 160 acres [85-3-21]; real estate insurance proceeds up to exemption amount [85-3-23]
Personal Property:  Tangible personal property, any type, up to $10,000 [85-3-1(a)]; proceeds from sale of exempt property up to exemption amount [85-3-1(b)(i)]; personal injury recoveries up to $10,000 [85-3-17]
Insurance / Annuities:  Disability benefits, unlimited amount [85-3-1(b)(ii)]; homeowners' insurance proceeds up to $75,000 [85-3-23]; fraternal society benefits, unlimited amount [83-29-39]; life insurance cash value up to $50,000 [85-3-11]; life insurance proceeds if policy prohibits proceeds from being used to pay creditors, unlimited amount [83-7-5]
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Pensions / Retirement Plans:  IRAs and Keoghs, unlimited amount, but must be deposited more than one year before filing bankruptcy [85-3-1(b)(iii)]; retirement benefits, unlimited amount if deposited more than one year before filing bankruptcy [85-3-1(b)(iii)]; private retirement benefits, unlimited amount if tax-deferred [71-1-43]; police officers and firefighters, unlimited amount [21-29-257]; highway patrol officers, unlimited amount [25-13-31]; public employees retirement and disability benefits, unlimited amount [25-11-129]; state employees, unlimited amount [25-14-5] and teachers, unlimited amount [25-11-201(1)(d)]
Public Benefits / Entitlements:  Unemployment compensation, unlimited amount [71-5-539]; workers' compensation, unlimited amount [71-3-43], aid to aged, blind and disabled, unlimited amount [43-9-19, 43-3-71 and 43-29.15]; social security, unlimited amount [25-11-129]; crime victims compensation, unlimited amount [99-41-23]
Wages:  Earned but unpaid wages owed for 30 days, after 30 days 75% of wages due [85-3-4]
Miscellaneous:  Business partnership property, unlimited amount [79-12-49]