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Key takeaways. Chapter 7 bankruptcy may allow you to exempt your vehicle if its value is under the exemption limit. The federal bankruptcy exemption limit is $4,450 until 2025, but it can vary by ...
A car used only for commuting to work is not a tool of the trade, but a motor vehicle can be, including a farm tractor. [12] Breeding stock can be considered, as well as a logging truck and trailer. [12] However, some cases have limited the exemption to personal hand tools and not large machinery or power tools. [12] [11]
The rules for filing personal bankruptcy in each province and territory differ slightly. In some areas of Canada individuals may be permitted to keep (exempt) certain property. Common items for exemption include clothing, furniture, appliances, motor vehicles, medical and dental aids, a home, family heirlooms, and some insurance. In basic terms ...
Under the new law, the homestead exemption, which allows bankruptcy filers in some states to exempt the value of their homes from creditors, is limited in various ways. If a filer acquired their home less than 1,215 days (40 months) before filing, or if they have been convicted of security law violations or been found guilty of certain crimes ...
The deadline to obtain a California Real ID for U.S. domestic travel is officially less than a year away.. Beginning May 7, 2025, the new federal identification requirements take effect in ...
Depending on the type of bankruptcy you pursue, many of your outstanding debts will be addressed through a payment plan or paid off through liquidation of non-exempt assets. Filing for bankruptcy ...
The department of Motor Vehicles was within the Department of Finance in 1921. In 1935, the Department of Motor Vehicles was created. [7] Still only vehicles that used the highways were subject to registration, and the two classes of Driver's Licenses was Operator's and chauffeur's. The Highway Patrol was tasked with enforcement of the vehicle ...
California Gov. Gavin Newsom has signed into law Assembly Bill 1766, which expands eligibility for state identification cards.