Re: Exempt Property
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Posted by LadynRed
(199.91.33.254) on January 31, 2003 at 14:09:33:
In Reply to: Re: Exempt Property posted by Frapster on January 31, 2003 at 13:00:30:
Ch 7 isn't for repaying your debts, its for getting RID of them, unsecured debts are discharged - forever. If you want to pay back creditors but take the pressure off, then Ch 13 would be better for you. You pay back creditors, unsecured gets priority, over a 3-5 year plan. All your disposable income for that time goes into the plan, but you get to keep all your property. As for exemptions, you use the same exemptions for judgments as you do bankruptcy and it certainly does vary by state. Garage sale prices are correct for you personal property. At the site linked below you can look up what your exemptions are.. and get plenty of good info on bankrtupcy at the same time.
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