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Massachusetts STATE LAW

WAGE GARNISHMENT EXEMPTION:

– $125 per week

MAXIMUM INTEREST RATE:

– Legal: 6% Judgment: 12%
– Contract: 12%

STATUTE OF LIMITATIONS ON ENFORCEMENT:

– Open account (credit card): 6 years
– Contract: 6 years
– Domestic Judgment: 20 years
– Foreign Judgment: 20 years

BAD CHECK LAW DAMAGES:

– Amount due, plus litigation costs and protest fees plus $100 to $500

tape recording

Two party state

BANKRUPTCY PROPERTY EXEMPTIONS:
(Massachusetts General Laws Annotated)

– The State of Massachusetts has exempted the property and income below from seizure by the bankruptcy court to pay creditors.
– Massachusetts allows you to use either the state exemptions below or the federal exemptions.

Real Estate:

– Property used as residence up to $100,000; if over 62 years of age or disabled, then up to $200,000 (must officially record homestead declaration before bankruptcy filing) [188–1, 188–1A and 188–2]

Personal Property:

– Cash or bank deposits to $125, bibles and books up to $200 total, boats, tackle and nets of fisherman up to $500 total [235–34]
– Burial plots, tombs and church pew, unlimited amount [235–34]
– Cash for fuel, heat water or light up to $75 per month [235–34]
– Cash for rent up to $200 per month in lieu of real estate exemption [235–34]
– Food or cash for food up to $300, furniture up to $3,000, and automobile up to $700 [235–34]
– Beds, bedding and heating unit, unlimited amount [235–34]
– Clothing, amount needed [235–34]
– Tools, implements, fixtures used in business up to $500 total and materials used in business up to $500 total [235–34]
– Sewing machine to $200 [235–34]; cooperative association shares up to $100 [235–34]; two cows, 12 sheep, 2 swine, and 4 tons of hay [235–34]

Insurance / Annuities:

– Life insurance annuity contract if contract states it is exempt, unlimited amount [175–125]
– Fraternal society benefits, unlimited amount [176–22]
– Disability benefits to $400 per week [175–110A]
– Group life insurance policy, unlimited amount [175–135]
– Life insurance policy if beneficiary is married woman, unlimited amount [175–126]
– Life insurance proceeds if policy prohibits proceeds from being used to pay creditors, unlimited amount [175–119A]
– Group annuity policy or proceeds, unlimited amount [175–132C]
– Life or endowment policy, proceeds or cash value, unlimited amount [175–125]
– Medical malpractice self–insurance, unlimited amount [175F–15]

Pensions / Retirement plans:

– Private retirement benefits, unlimited amount [32–41]
– public employees, unlimited amount [32–19]
– Retirement benefits, unlimited amt [235–34A and 246–28]
– Savings bank employees, unlimited amount [168–41 and 168–44]

Public Benefits / Entitlements:

– Veterans' benefits, unlimited amount [115–5]
– Workers compensation, unlimited amount [152–47]
– Aid to families with dependent children, unlimited amount [118–10]
– Aid to aged and disabled or general public assistance, unlimited amount [235–34]
– Unemployment compensation, unlimited amount [151A–36]
Wages: Earned but unpaid wages to $125 per week [246–28]
– Seaman's wages, unlimited amount [246–32(7)]

Miscellaneous:

– Business partnership property [108A–25]