can i own a vehicle and wife is paying for one when i file bankrupcy or will they make me sell my vehicle as an assett we rent and own nothing except
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can i own a vehicle and wife is paying for one when i file bankrupcy or will they make me sell my vehicle as an assett we rent and own nothing except
Asked on May 7, 2009 under Bankruptcy Law, Washington
Answers:
N. K., Member, Iowa and Illinois Bar / FreeAdvice Contributing Attorney
Answered 14 years ago | Contributor
Items you can keep are called "exemptions." In Washington, you can choose exemptions under the Federal statutes or under the state statutes.
Under the Federal statute, you can keep your vehicle up to $3,225 in value. Under the Washington statute, you can keep your vehicle up to $2,500 in value. You can also keep 2 vehicles (for you and your wife) up to $5,000.
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