California | Bankruptcy
Legal Question
Bankruptcy
I'm buried in debt and considering filing for chapter 7 bankruptcy. I have a ton of credit cards that are about 30K, and my bills each month come to more than I make... I do own a new truck that I would like to keep continue paying off and some other personal property. I read that in Chapter 7 you'll be able to keep most household goods, furniture, furnishings, clothing (other than furs), appliances, books and musical instruments. You may be limited up to $1,000 or so in how much jewelry you can keep. Most states let you keep a vehicle with more than $2,400 of equity. And many states give you a ''wild card'' amount of money -- often $1,000 or more -- that you can apply toward any property.
So it looks like I might be able to keep my truck if I file chapter 7. Please let me know what you think and also what the procedure is when you file. Does someone come to your house and look at all your belongings? thank you
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