Bankruptcy exemptions are rules that exempt certain types and amounts of property from being sold or used to satisfy the claims of debtors in your bankruptcy case. Each state has a set of bankruptcy exemptions that you can use to protect your property while going through bankruptcy.

Federal law also provides a set of bankruptcy exemptions. Your state’s law will determine whether you can choose the federal bankruptcy exemptions, or if you must use your state’s bankruptcy exemptions. But if your state’s law allows you to choose between the two sets of bankruptcy exemptions, you must choose one or the other, and cannot choose exemptions from both your state and the federal exemptions.

In Maryland, bankruptcy exemptions play a crucial role in protecting certain assets of individuals filing for bankruptcy. Maryland law requires that individuals use the state's bankruptcy exemptions and does not allow the use of federal bankruptcy exemptions. These exemptions include specific amounts of equity in a debtor's primary residence, personal property, retirement accounts, and public benefits, among others. The goal of these exemptions is to enable individuals to retain enough property to obtain a fresh start after bankruptcy. It's important for debtors to review Maryland's specific exemption amounts and categories, as these are subject to change and can affect the assets they are able to keep. An attorney can provide guidance on how to apply these exemptions in a bankruptcy case.