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In Arizona a chapter 7 debtor is entitled to an exemption of $5000 in a motor vehicle. Since you owe $1000, this means that you were over exemption by $8000.
Typically when a debtor is over exemption, the bankruptcy trustee will allow the debtor to purchase the over exemption. In other words, the trustee may allow you to pay $8000 in order to retain your vehicle
most trustees will allow a payment plan
Typically when a debtor is over exemption, the bankruptcy trustee will allow the debtor to purchase the over exemption. In other words, the trustee may allow you to pay $8000 in order to retain your vehicle. Most trustees will allow a payment plan
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