Valued Contributor
chasmith
Posts: 1,062
Registered: ‎05-26-2010
Re: Keeping a classic car as exempt

The exemption belkongs to the debtor.  The creditor might challenge the designation of the classic car claiming it's worth more than the exemption but the debtor designates the exemption.

BK7 Filed 8/11/2009 Discharged 11/23/2009. Purchased new home 4/11/2012
Starting Score:11/16/2009 EQ 566 11/16/2009 TU 538
Interim Score: 12/27/2012 EQ 683 09/17/2012 EX (lender) 670 1/01/2013 TU 701
Current Score: 11/06/2013 EQ 708 11/06/2013 EX 702 11/16/2013 702 11/06/2013 TU 729
Goal Score: EQ 740 EX 740 TU 740
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