Will I be able to keep my Truck??

[gryphon]

Well I am about to claim chapter 7 in Connecticut.

I will be giving up my house cause I have no choice but will I be able to keep my truck? Kelly Blue book says it's worth approx. $8900.00.

My significant other is leaving me and taking everything alse with her so I have just about nothing else left.

[cleansafe]

gryphon welcome to the site i am new hear also and there are many here who will be glad to help. im about to dothe same file chapter 7 and i plan on reaffirming my truck. im sure someone else will have better answer for ya. but thats what im going to do.

[gryphon]

Thanks for the welcome Cleansafe...


I forgot to mention that I own the truck outright... paid it off a few years ago... will they take it from me or do I actually have to buy it back.

This really concerns me as I will have absolutely notheing left... not a panny to my name... and sleeping on my sisters couch for a while.

If I loose the truck I will have no way to get to work so I will lose the crappy, but only job I got.

[SinkingFast]

Welcome to the Forum, Gryphon!

Connecticut filers can choose State or Federal Exemptions. Whichever suits your needs best.

Federal has an $18,450 Homestead Exemption. You can use up to $9250 of unused Federal Homestead Exemption as a WildCard to protect any property.

U.S. Bankruptcy Code - Exemptions
Section 522(d) as amended 1999

The following property may be exempted under subsection (b)(1) of this section:

#1 The debtor's aggregate interest, not to exceed $18,450 in value, in real property or personal property that the debtor or a dependent of the debtor uses as a residence, in a cooperative that owns property that the debtor or a dependent of the debtor uses as a residence, or in a burial plot for the debtor or a dependent of the debtor.


#5 The debtor's aggregate interest in any property, not to exceed in value $975 plus up to $9,250 of any unused amount of the exemption provided under paragraph (1) of this subsection.

http://www.debtworkout.com/bc522d.html

http://www.moranlaw.net/code_exemptions.htm