Bankruptcy in NJ...chapter 7 OR 13. My husband and I are currently thinking about...

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princesj73

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...filing bankruptcy. ? I know if you have 40,000 in equity its protected. So what happens if we should have 60,000 in equity? Would they require us to take a home equity loan and repay the debt? Also, my husband was given a boat (from his dad) that's worth around 10,000. Would we be required to sell that? Your help is appreciated. Thanks
 
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