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Would you lose car retail value 3500 if you file chapter 7 in California?

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2005-09-24 19:14:23
2005-09-24 19:14:23

California allows the person(s) to choose either state of federal bankruptcy procedures. The state vehicle exemption if state is $1900 the federal is $2775. Generally the person is allowed to retain at least one vehicle even if it is not fully covered by the exemption. Unless the vehicle is a new(er) luxury model, it would not be in jeopardy due to the inability to predict the exact amount recovered.

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