Wildcard chapter 7

[crazyinside]

My wife and I live in Oregon so we can use the federal exemptions.

We don’t own a house so from what I’m getting is we can use the wild card plus 13k for any asset we want to keep. And doubled for filing jointly so roughly 30k or a bit less if I’m reading it right.

The only asset i have is a bass boat that is paid for and I have the title. It’s worth probably 30-35k and we’d like to keep that

So is would that wild card exemption work on that in a chapter 7? Or am I reading it wrong.

[flashoflight]

A lot of us don't have access to the federal exemptions including me so I don't want to say whether your interpretation is correct. Some of us in California do have access to the state wildcard exemption and you can try to fit anything into it including a boat, ATV, a home you don't live in, or whatever. Your attorney would advise you whether to offer anything to your specific trustee or assume that the trustee will abandon the boat because there is little profit after expenses of sale.

[crazyinside]

A lot of us don't have access to the federal exemptions including me so I don't want to say whether your interpretation is correct. Some of us in California do have access to the state wildcard exemption and you can try to fit anything into it including a boat, ATV, a home you don't live in, or whatever. Your attorney would advise you whether to offer anything to your specific trustee or assume that the trustee will abandon the boat because there is little profit after expenses of sale.

Well California sounds pretty nice for that kind of thing.

It’s hard to find a solid answer on the federal wildcard since a lot can’t use it. We won’t be filing until December so I guess I’ll have to wait until then to see what an attorney here says.

[Backagain]

I filed back in 2015 in Pennsylvania, so I could use the federal exemptions. It covered my car and my jewelry.
I believe you can use it to cover anything…or multiple things till it is used up. Why not a bass boat.

[crazyinside]

Well that’s good to hear! We don’t really have any jewelry or anything so hopefully we can put it all towards the boat and make it work.

Thanks for the info

I filed back in 2015 in Pennsylvania, so I could use the federal exemptions. It covered my car and my jewelry.
I believe you can use it to cover anything…or multiple things till it is used up. Why not a bass boat.