In Ohio we have exemtions that are quite specific.
In particular, the vehicle exemption is for $3,200(I think that's the figure), but my car is only worth about 2k.
My attorney, an attorney who is well-versed in Bankruptcies, has placed my sailboat(valued at $1200) in the "vehicle" exemption.
Ohio's law states that the exemption is for "a" vehicle.
Does anyone know the reason for making what appears to be rather liberal use of excess amounts of exemptions.
Can it be, that regardless of the "letter" of the "sate" law, that individual courts and/or judges, habitually make "allowances", that are not quite in strict compliance to state laws? Maybe, especially in states, where the state allowances are considerably lower than the federal allowances?
I was told "everything's protected" and that I should lose nothing, which I hope is true, but just wonder "how" it can be so.
Any ideas?
In particular, the vehicle exemption is for $3,200(I think that's the figure), but my car is only worth about 2k.
My attorney, an attorney who is well-versed in Bankruptcies, has placed my sailboat(valued at $1200) in the "vehicle" exemption.
Ohio's law states that the exemption is for "a" vehicle.
Does anyone know the reason for making what appears to be rather liberal use of excess amounts of exemptions.
Can it be, that regardless of the "letter" of the "sate" law, that individual courts and/or judges, habitually make "allowances", that are not quite in strict compliance to state laws? Maybe, especially in states, where the state allowances are considerably lower than the federal allowances?
I was told "everything's protected" and that I should lose nothing, which I hope is true, but just wonder "how" it can be so.
Any ideas?