what is ch 11 bankruptcy

If you file bankruptcy will they take your car?

If you file ch. 7 do they take your cars, paid off old cars, worth probably $2000 together? And also, what happens with your tax return if you get one, after the case is filed, do they take that too? Filing bankruptcy this month, will file taxes in March ‘11.

Each state is different so you would have to look up the laws in your state. I believe most states have an exemption amount of personal assets that can’t be touched by your creditors also you are able to keep at least one car. I believe on the bankruptcy petition they ask if you are entitled to a tax refund, so they may confiscate this money.

LA Dodgers File for Chapter 11 Bankruptcy

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