Q: As a music teacher, I know that my piano is exempt in a chapter 7 case; but is there a limit on it's dollar value?
I can easily find the list of exempt property in a CT bankruptcy case, but I can't find anything regarding caps on monetary value. Are there any?
A: You need to discuss this with an experienced bankruptcy attorney and should never never never try and handle your own case. That being said, I would exempt your piano under your wildcard or tools of the trade but it would all depend on how that matches up with your other property and exemption statutes. Bankruptcy is a work of art that should not be underestimated. From your question, I gather that you know enough to be dangerous to yourself but not much else. Do yourself a favor. Understand that you are not a lawyer who focuses on bankruptcy and find one who does.
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