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  1. #1
    Join Date
    Aug 2013

    Default Car Exemption in Bankruptcy

    My question involves bankruptcy in the state of: New York..I'm married and I'm looking to go chapter 7. Our car has a loan on's in my wife name..can I use that to get the car exemptions...also are u able to get any kind of exemption for flex spending account..

  2. #2
    Join Date
    Sep 2005
    Behind a Desk

    Default Re: Car Exemption in Bankruptcy

    This is a joint bankruptcy?

    Can you use what "to get the car exemptions"?

    If you are talking about the means test, you should anticipate that your qualification for Chapter 7 bankruptcy will be based upon your income before deductions for a flex savings account. If you are talking about what might be reached by creditors, the situation in New York appears to favor creditors - although if the trustee favors including the account balance as an asset you may be able to protect some of the balance with the wildcard exemption.

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