Can I keep my camp trailer during a chapter 7 bankruptcy? 8 Answers as of December 29, 2010

My home is 600 sq ft. Me and my cohabitating partner need it for more room. If I were to file chapter 7, might I have consideration by the court to be able to keep it from being confiscated in the chapter 7 process?

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Mankus & Marchan, LTD
Mankus & Marchan, LTD | Tony Mankus
If your camp trailer is your primary residence, it may be subject to a homestead exemption in bankruptcy. If it is purely a recreational vehicle, it may be subject to a motor vehicle exemption in your State. You should check with a bankruptcy atorney in your State.
Answer Applies to: Illinois
Replied: 12/29/2010
DiManna Law Office, LLC.
DiManna Law Office, LLC. | Dawn DiManna
You probably can find an exemption to use to keep it, but more details would be needed to say for sure.
Answer Applies to: New Hampshire
Replied: 12/21/2010
William C. Gosnell, Attorney at Law
William C. Gosnell, Attorney at Law | William C. Gosnell
In Tennessee you have a personal property exemption and so long as the value fits under the exemption you are ok.
Answer Applies to: Tennessee
Replied: 12/21/2010
Greifendorff Law Offices, PC
Greifendorff Law Offices, PC | Christine Wilton
Possibly. We have what is called a "wildcard" exemption where we can apply an amount to any personal property and exempt the limit of that exemption from the trustee's taking in chapter 7. It depends on the value of the item and the amount of equity you have in it, if you have a loan against it.
Answer Applies to: California
Replied: 12/21/2010
Carballo Law Offices
Carballo Law Offices | Tony E. Carballo
California law allows you to keep certain amount of property in bankruptcy. Those are called exemptions. If you can exempt the trailer you can keep it whether or not you need it. It will depend on the value of the trailer and what other property you own free and clear. The exemptions available under California law to be used in federal bankruptcy cases are very generous. You need to find out the value of your trailer (how much you could get if you wanted to sell it fast) and the value of other vehicles, bank account balances, life insurance with value, etc. You certainly need to make a list of all your property and value it to the best of your ability. You then see a local bankruptcy attorney for a consultation. Most bankruptcy attorneys offer a free initial consultation.
Answer Applies to: California
Replied: 12/20/2010
    Law Offices of Lady Justice
    Law Offices of Lady Justice | Mona Patel
    Of course! It is called a reaffirmation agreement if you still owe money on it. Then you basically agree to keep making the payments. If you do not owe money on it still, then yes there are ways to still keep you camper.
    Answer Applies to: California
    Replied: 12/20/2010
    The Shakoori Law Group
    The Shakoori Law Group | Rachelle Shakoori
    It really depends on the value and other factors.

    I highly recommend that you retain an experienced bankruptcy attorney in your jurisdiction to guide you through the complexities of bankruptcy law and procedure
    Answer Applies to: California
    Replied: 12/20/2010
    The Law Office of Mark J. Markus
    The Law Office of Mark J. Markus | Mark Markus
    Whether or not you can keep assets in a Chapter 7 case is a function of the value of your assets and which state's exemption laws apply to your case. It has nothing to do with the court or its "consideration." Which state's laws apply depends on where you have lived for the 2 years prior to filing your case. You have not provided sufficient information to be able to answer your question. You need to consult with a bankruptcy attorney who can get all the necessary information from you.
    Answer Applies to: California
    Replied: 12/20/2010
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