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cfortunato, Attorney
Category: Bankruptcy Law
Satisfied Customers: 8023
Experience:  Bankruptcy professor.
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If a debtor is looking to file chapter 13Bk are all of the

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If a debtor is looking to file chapter 13Bk are all of the assets protected regardless of what and how many. For example if a debtor owns collectible cars and more then one home are those assets protected in a chapter 13?
Submitted: 5 years ago.
Category: Bankruptcy Law
Expert:  cfortunato replied 5 years ago.

cfortunato :

Hi JACustomer,

Expert:  cfortunato replied 5 years ago.
Creditors in a Chapter 13 are entitled to receive what they would have received if the debtor had filed a Chapter 7 instead.
That means to keep assets, the total of the debtor's plan payments must be enough to pay the total value of the non-exempt portion of those assets.
Specifically, if the cars are worth $100,000, and that entire amount is non-exempt, the debtor's total Chapter 13 payments over the entire plan period must be at least $100,000 in order to keep the cars.

I think this is what you wanted to know. If not, please let me know.
Thank you.
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