Q: What types of property are you allowed to keep in Chapter 7 bankruptcy?
A: Keep your vehicle if you are current or can get current quickly. Same on your house. Keep thousands of dollars of other stuff.
A: As a Michigan resident, you can choose between the "federal" exemptions and the "state" exemptions. There is a lot of information available on the internet if you want to research this yourself. An attorney experienced in bankruptcy law will be able to advise you as to the relative advantages of the two basic choices. The question cannot be adequately answered in this condensed format.
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