Legal Question in Bankruptcy in Virginia

Personal Property

In declaring bankruptcy, will I be allowed to keep my home, car (2),and will the savings in my 401K be also exempt?

Asked on 6/20/01, 4:42 pm

1 Answer from Attorneys

Daniel Press Chung & Press, P.C.

Re: Personal Property

As to your home and car, depending on what they are worth, what you owe on them, and what chapter you file, you may or may not be able to keep them. As to the 401(k), if it is properly set up, it should be exempt. See a lawyer - don't try to do this yourself.

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Answered on 6/29/01, 12:31 pm

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