Maryland HB1520 alters exemptions from judgment for debtors in bankruptcy, specifying allowable exemptions and procedures for garnishment.

Maryland HB1520 revises the exemptions from judgment for debtors in bankruptcy, detailing specific exemptions and procedures for garnishment. It exempts personal property up to $5,000, owner-occupied residential real property, and certain retirement plan contributions from creditor claims. It also outlines procedures for writs of garnishment, including a $500 exemption for deposit accounts at depository institutions. The bill specifies that certain exemptions do not apply to wage attachments and prohibits debtors from waiving these provisions. The changes take effect October 1, 2026.

Maryland HB1520 alters exemptions from judgment for debtors in bankruptcy, specifying allowable exemptions and procedures for garnishment.

Maryland HB1520 revises the exemptions from judgment for debtors in bankruptcy, detailing specific exemptions and procedures for garnishment. It exempts personal property up to $5,000, owner-occupied residential real property, and certain retirement plan contributions from creditor claims. It also outlines procedures for writs of garnishment, including a $500 exemption for deposit accounts at depository institutions. The bill specifies that certain exemptions do not apply to wage attachments and prohibits debtors from waiving these provisions. The changes take effect October 1, 2026.