Can I keep my car when filing for bankruptcy?

In the state of Kansas, you may be able to keep your car when filing for bankruptcy. This is because the state offers what is known as an exemption system. The Kansas exemption system allows a person filing for bankruptcy to exempt certain types of property from the bankruptcy proceedings. Under the Kansas Exemptions, you can keep a car if it is valued at or below $20,000. However, if the car is worth more than $20,000, you can use the Federal Exemptions, which allow you to keep a car valued up to $4,000. In order to make sure that you are able to keep your car, you will need to provide the bankruptcy trustee with documentation that proves the value of your car as well as any liens or other debts on the car. The trustee will then decide if you are able to keep the car or if it will have to be sold to pay off creditors. Ultimately, the best way to make sure that you can keep your car when filing for bankruptcy in Kansas is to consult with a lawyer. A lawyer will be able to advise you on the best way to protect your car and what exemptions you may be eligible for.

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Can I keep my car when filing for bankruptcy?

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