Question

 What can one keep during a Chapter 7 bankruptcy?

Answer Filing for Chapter 7 bankruptcy doesn't mean you will lose all your belongings and assets. You are allowed certain exemptions. These exemptions can differ from state to state and from state to fede... Read More »
http://www.answerbag.com/q_view/1918198

Top Q&A For: What can one keep during a Chapter 7 bankruptcy

What can you keep in Chapter 7 bankruptcy?

Chapter 7 bankruptcy technically requires all assets to be sold to generate cash for creditors. However, states have enacted laws allowing people to keep certain assets outside of the bankruptcy.Co... Read More »
http://www.answerbag.com/q_view/1899786

What Happens During Chapter 13 Bankruptcy in Ohio?

Unlike other kinds of bankruptcy, filing for a Chapter 13 bankruptcy in Ohio is a way to reorganize your debt and discharge a certain percentage of it. If you are in danger of foreclosure or owe mo... Read More »
http://www.ehow.com/about_6386059_happens-chapter-13-bankruptcy-ohio_.html

What assets are sold during Chapter 7 bankruptcy?

Chapter 7 bankruptcy requires that all assets be sold to generate cash for creditors. However, a quirk of the federal bankruptcy law gives individual states permission to establish "exemptions" all... Read More »
http://www.answerbag.com/q_view/1899787

In Chapter 7 Bankruptcy can you use the Homestead Federal Bankruptcy Exemption to keep your 120000paid off condominium with a lien against it for an 11000credit card debt in pa?

Your right that PA has no special homestead exemption for BK and you would rely on the Federal one.The lien (the Cr Card one), is essentially the same as a first position mortgage against the prope... Read More »
http://wiki.answers.com/Q/In_Chapter_7_Bankruptcy_can_you_use_the_Homestead_Federal_Ban...


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