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Which of the following items would you most likely be able to keep in Chapter 7 bankruptcy?


a.

equity in your home

b.

a fur coat worth $2,000

c.

a sports car with $6,000 equity

d.

tools for your woodworking hobby


The answer is A

Verified Answer :

The answer is A, as stated.

Answer:

The answer is option A.

Step-by-step explanation:

Which of the following items would you most likely be able to keep in Chapter 7 bankruptcy? The answer is - equity in your home.

Equity is the amount of ones home, that he/she actually owns after accounting for debt. It can be calculated by subtracting the loan balance from the market value of the home.

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