What Happens to Personal Property in Chapter 7 Bankruptcy?

Most bankruptcy filers want to know what will happen to their personal property when they file for Chapter 7 or Chapter 13 bankruptcy. This includes family heirlooms, clothing, artwork, furniture, wedding rings, books, household appliances, and the like. Read the articles below to find out what happens to these items.

You can get a better understanding of the broader principals governing property in bankruptcy by reading the articles in our section What Happens to Your Property in Bankrupty? And for links to your state exemption rules (where you can find out what personal property is exempt in your state), check out our Bankruptcy Exemptions section.