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Nonexempt residence is seized and liquidated to pay for creditors. Residence exemptions vary in Each individual state. However, in many scenarios debtors are permitted to continue to keep their Principal residence, personal possessions, and car. The trustee then oversees the liquidation of all other house.??Not like the massive companies, my consum

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By way of example, a debtor should want to keep away from getting an car seized for nonpayment. The debtor can keep building payments and hang on to the car by reaffirming the financial debt.As Component of the repayment approach, the debtor can request lessen interest prices and in some cases get Component of the harmony forgiven. Creditors can it

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