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Exempt property questions

Submitted by on Sat, 12/20/2008 - 09:15
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I am in Massachusetts and have a question. It says that an automobile up to $700 is exempt. But it also says People have the right to use Federal Bankruptcy Exemptions which states Vehicles up to $2,575.

Does this only pertain to Bankruptcy or would this pertain to debt collectors trying to take a consumers vehicle upon getting a judgment?

I am not in this situation, just trying to better educate myself.