Friday, December 02, 2005

Case of the Week: 11/4/05

County: Berkeley
Age: 61

Client contacted us regarding bankruptcy. After determining that he is not judgment proof, I explained the changes in the new bankruptcy law and the differences in Chapter 7 and Chapter 13. He was mostly concerned about his car. I explained that under Chapter 7 his car can be reaffirmed or if below $2,400, can be completely exempted. Under Chapter 13 all property can be kept; however, since the only asset the client had was his car, Chapter 7 was recommended.

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