If there is no equity in anything else they want to keep, then their exemption might cover the trailer. Even if the trailer ends up being worth $10k, you still have to deduct the cost of selling it and account for the fact that a buyer would have the expense of moving it, which would reduce the value even more. If it's within their allowable exemption, the creditors can't touch it. Worst case scenario, a small portion of the value isn't exempt and they can work out something with the trustee to pay the difference and keep the property.
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