Posted on: 07th Feb, 2010 05:57 am
i have my own home currently worth nearly $110,000, upon which i owes $100,000. i plan to reaffirm the debt on my home. i also owns lexus worth $30000. but i owes no money on the lexus.
what exemption i have got here under chapter 7 bankruptcy?
did i have exemption for my home and car or any ?
note: explain general rules about my situation.
what exemption i have got here under chapter 7 bankruptcy?
did i have exemption for my home and car or any ?
note: explain general rules about my situation.
Welcome heartsole,
Please check out the given page to get information about Chapter 7 exemptions:
http://www.mortgagefit.com/bankruptcy/chapter7.html#exemptions
Please check out the given page to get information about Chapter 7 exemptions:
http://www.mortgagefit.com/bankruptcy/chapter7.html#exemptions
Thanks for the link. According to this, I wont exceeds the state or federal exemption as my equity is 10000. It wont help me to pay off loans write?
Guest... I guess you have a bankruptcy attorney. You should consult him in this regard. As far as I know, if you do not have equity in the property, you may keep the property with you. It won't help you in paying off the dues.