I have a boat that is worth $20k, maybe less in this dismal market. I owe $10k to Key Bank on a boat loan. I will be living on the boat when I file bk later this year. Can I keep it, I fully intend to pay the boat loan off.
What about a car I own out right, worth $10k. Can I keep this in chap 7 bk ?
FYI my Chap 7 goal is strictly about discharging a 1st and 2nd mortgage on a homestead property. As I said I plan to pay the boat loan off.