Kenny's car is worth $11,000, but he owes $13,424 to Car Lenders, Inc. Kenny is keeping the car, but since it has negative equity, there's no need to list the asset nor exempt it on Schedule

Name: Kenny's car is worth $11,000, but he owes $13,424 to Car Lenders, Inc. Kenny is keeping the car, but since it has negative equity, there's no need to list the asset nor exempt it on Schedule
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The Answer is False

Kenny's Car Is Worth $11,000, but He Owes $13,424 to Car