Legal Question in Bankruptcy in Washington

Bankrupcy and how it affects my House & Vehicles.

When you declare bankrupcy, how does it affect your ownership of home and vehicles. What happens when one of the creditors have a lien on your home. I also own an RV. Will I have to sell it to satisfy my creditors? What about duplicate household items. (TV's, VCR's, Stereo's) Will they need to be sold?


Asked on 2/22/98, 6:20 pm

1 Answer from Attorneys
Andrew Sargent Law Office of Andrew H. Sargent

Bankrupcy and how it affects my House & Vehicles.

There are specific exemptions for vechiles and home in the code. There are federal and state exemptions and you must select one or the other. I would expect the RV to be sold unless there is a lien against it that equals the value. However, without more details I can not give you specific advise. You need to retain a lawyer and go over all the details.

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Answered on 3/01/98, 8:41 pm


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