Can I keep lawsuit money if I file for bankruptcy in Pennsylvania?
When you file a Chapter 7 bankruptcy in Pennsylvania, you may have to turn over some or all of the money you receive (or may receive) from a lawsuit.
The Pennsylvania Homestead Exemption
In bankruptcy, a homestead exemption protects equity in your home. Here you’ll find specific information about the homestead exemption in Pennsylvania.
The Pennsylvania Motor Vehicle Exemption in Bankruptcy
Pennsylvania does not have a motor vehicle exemption; however, if you file for Chapter 7 bankruptcy in Pennsylvania you can protect some equity in your car, truck, van, or other vehicle with Pennsylvania’s wildcard exemption.
Should I Use The Pennsylvania or Federal Bankruptcy Exemptions?
In the state of Pennsylvania, debtors who file for bankruptcy are given the choice between using the Pennsylvania bankruptcy exemptions and the federal bankruptcy exemptions.