Can I combine the wildcard exemption with another exemption in bankruptyc? 9 Answers as of March 17, 2011

Can I combine the wildcard exemption with another exemption? For example, if the remaining balance on a purchase note for a motor vehicle is $11,630, can I use the wildcard plus the $3,450 vehicle exemption to exempt the vehicle completely? Also, can any unused value of the wildcard exemption be used for multiple items.

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Janet A. Lawson Bankruptcy Attorney
Janet A. Lawson Bankruptcy Attorney | Janet Lawson
Yes, that is what the wildcard is for.
Answer Applies to: California
Replied: 3/17/2011
The Law Office of John T. MacDonald Jr., PLLC
The Law Office of John T. MacDonald Jr., PLLC | John MacDonald Jr.
I'm not sure that I understand your question. If you still owe on the car loan then you would not be using an exemption. An exemption may be given so that you can keep property that you out right own or have some equity in and not be forced to turn over to the trustee. If you have further questions please feel free to contact me.
Answer Applies to: Michigan
Replied: 3/17/2011
Law Offices of Joseph A. Mannis
Law Offices of Joseph A. Mannis | Todd Mannis
Yes, you may use the wildcard in conjunction with another appropriate exemption in order to protect equity in an asset. You may do so until the wildcard is exhausted. Should you wish, please do not hesitate to call me with further questions or to set up a consultation.
Answer Applies to: California
Replied: 3/17/2011
Law Office of L. Paul Zahn
Law Office of L. Paul Zahn | Paul Zahn
Yes, the wildcard exemption can be combined with other exemptions. If you are looking for a bankruptcy attorney, please contact me for a free consultation. ransmission.
Answer Applies to: California
Replied: 3/17/2011
The Law Office of Mark J. Markus
The Law Office of Mark J. Markus | Mark Markus
In general, yes you can combine the wildcard exemption as you stated. I am assuming you are referring to the federal wildcard exemption.
Answer Applies to: California
Replied: 3/17/2011
    Burnham & Associates
    Burnham & Associates | Stephanie K. Burnham
    Yes, the windward exemption may be used on multiple items and with other exemptions.
    Answer Applies to: New Hampshire
    Replied: 3/17/2011
    Mercado & Hartung, PLLC
    Mercado & Hartung, PLLC | Christopher J. Mercado
    Yes, you can use a wild card exemption under the federal law on non-exempt property, or partially for exempt property.
    Answer Applies to: Washington
    Replied: 3/17/2011
    Diefer Law Group, P.C.
    Diefer Law Group, P.C. | Abel Fernandez
    Yes. As long as all of the exemptions are found in the same code section. So you cannot mix exemptions under CCP 703 and 704.
    Answer Applies to: California
    Replied: 3/17/2011
    The Orantes Law Firm
    The Orantes Law Firm | Giovanni Orantes
    Yes. That is why it is called a wild card. However, note that all you need to protect for a car that hasn't been paid off yet is your equity in it (that is, its value minus the outstanding balance due).
    Answer Applies to: California
    Replied: 3/17/2011
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