Often, mostly for insurance purposes, a parent will put their child's car in their name alone, or jointly with their child. What happens when the parent decides bankruptcy is a good option? How can we protect the "child's car" when the parent files Chapter 7 or Chapter 13? Florida Statute 222.25(1) provides the debtor with a $1,000 exemption against a "single motor vehicle."
Hi I'm Shawn Yesner with Yesner Law. The Means Test is one of the most confusing things about the bankruptcy process, so I'd like to take a little bit of time to explain it in more detail.