The wildcard exemption in Chapter 7 and 13 bankruptcy provides a way to protect more of your assets from liquidation during bankruptcy. The exemption allows you to protect property not generally covered under other exemptions.
Most states let you protect or “exempt” some equity in your car, van, truck, or motorcycle using the motor vehicle exemption. You can keep the car in Chapter 7 bankruptcy if you can exempt its equity and meet other requirements.
Filing for bankruptcy doesn't always mean losing your home. Find out how the homestead exemption works in Chapter 7, and what could put your house at risk.
