What can you tell me about bankruptcy and a gun collection?

Answer by  Roland27 (16334)

Each state has a certain value for your possessions that you are allowed to keep. If the value of your possessions exceeds this amount they are allowed to sell off your items to help to pay off your debts. Don't try to sell your possessions to family or hide them because they will find out that you did.

Answer by  cody (1331)

if you go into bankruptcy you lose like everything to pay your bills that you owe. if you have a gun collection just give the guns to a relative to hold them for you

Answer by  tamarawilhite (17883)

Bankruptcy will not affect them UNLESS any guns were: listed as collateral for a debt, have a value over $500 and thus are assets, or you owed money on them.

Answer by  Jonny91 (23)

Bankruptcy wipes out your debt and leaves you with bad credit for seven or ten years. Gun collections are collection of various guns.