Virginia

Carter, who built what became Carter Bank and Trust from the ground up, was praised for his “uncanny” credit acumen, devotion to community and family, and willingness to take unconventional risks.

First Community Bancshares in Bluefield, Va., spent $15.5 million to buy back the securities.

“What will they take?”

When you file a Chapter 7 bankruptcy, the Chapter 7 trustee can take and sell your non-exempt assets.  (The proceeds are used to pay your creditors.)

Most people don’t have “non-exempt” assets, so the trustee doesn’t take and sell anything.  But that happy result often requires careful planning and detailed knowledge of exemption law.