Legal Question in Bankruptcy in Maryland

I file chapter 7 in state of maryland. there is a 6000 dollar federal exempt wildcard. I have a 2007 sonata that I owe 5500 on and retail value is 7500. Do I get to keep the car or will the trustee take and sell it.


Asked on 10/08/12, 1:19 pm

1 Answer from Attorneys
Daniel Press Chung & Press, P.C.

Sounds like you should be able to exempt it if you don't have to use up your exemptions on other property. Your lawyer should be able to advise you (do NOT try to file bankruptcy without a lawyer).

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Answered on 10/08/12, 7:10 pm


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