The wildcard exemption in Chapter 7 and 13 bankruptcy provides a way to protect more of your assets from liquidation during bankruptcy. This particular exemption allows you to protect property that is not normally covered under other exemptions. Here's how the wildcard exemption works.
If you file for Chapter 7 bankruptcy, you will most likely be able to exempt (protect) some equity in your car, van, truck, motorcycle, or other motor vehicle. If you can exempt enough equity, you'll be able to keep your car.