Bristol, TN asked in Bankruptcy for Tennessee

Q: in tn,can a married couple filing,ch.7,use their10k wildcard exemption to exempt a car valued at15k if in only one name

if not can you tranfer title to co ownership prior to filing and then use the combined 10k wildcard exemption to exempt the 15K valued car?

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1 Lawyer Answer
Michael Hollins Sr.
Michael Hollins Sr.
  • Bankruptcy Lawyer
  • Nashville, TN
  • Licensed in Tennessee

A: Your question ultimately is about Exemption Planning. You really need to be careful how you exempt the assets you own. There is wisdom in how to go about doing so. You should contact a Tennessee bankruptcy attorney to ensure that your assets are well-protected.

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