Legal Question in Bankruptcy in New York
Could my house and car be taken in chapt 13 bankrup
I own my house and am still paying payments on my car
could my house and car be taken from me if I file for
bankrupcy? I owe about $30,000. Also could my IRA or Annuity account be taken from me?
Asked on 9/07/00, 11:54 pm
1 Answer from Attorneys
David Wright
Law Offices of David Wright
Re: Could my house and car be taken in chapt 13 bankrup
There are exemptions for a certain minimum equity of primary residence, $10,000 per filer ($20,000 if joint), and possibly more. There is also an exemption for specified dollar amounts of equity in a car. Most retirement accounts are exempt. I suggest you collect all the information and sit down with someone who does bankruptcy.
Answered on 10/09/00, 7:26 am
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