what bankruptcy does to you

Bankruptcy Exemptions it means is how much to keep you aware of?

What if the exemptions say $ 3,000 for my car, worth about 10 000 $, But I have a lien on it for $ 7000? means I have $ 3000 to buy a new car? or it means they'll sell the car and I "m screwed. lol

If the car is worth $ 10,000 and you have a lien of $ 7,000, $ 3,000 then the exemption protects the equity in your car. You do not have to afford the payments, but you can keep the car if you do the payments.

Checklist to manage debt and myths about bankruptcy.

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