Legal Question in Bankruptcy in Pennsylvania

Bankruptcy Exemptions
Can you explain how the wildcard and unused portion of homestead exemptions work? I have no home equity. My vehicle equity is less than the exemption. But my question is about a stock acccout of about 5K. I read $1075 can be used in any property plus up to 10100 for unused portion of homestead. Which value do you use? Can someone clarify it for me? I just wonder if I am able to use this exemption for the full amount of the 5K? It's the only other asset I really have. Thank you.

Asked on 6/13/09, 10:21 am

Matthew Nahrgang Nahrgang & Associates, P.C.

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Re: Bankruptcy Exemptions

A wildcard exemption can be used for any asset up to the amount of the exemption. So, it sounds like you have plenty of exemption to cover it.

I trus this answers your question, but feel free to call or E-mail on a free initial basis.

Answered on 6/15/09, 2:55 pm

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