What Happens to Your Property in Bankruptcy?
Whether you can keep your property in bankruptcy depends on whether you file for Chapter 7 or Chapter 13 bankruptcy.
For the most part, you keep your property in Chapter 13 bankruptcy.
If you file under Chapter 7, you may have to give up some property (although many filers keep most, if not all, of their property). This mostly depends on whether your property is exempt. To learn more, be sure to check out our section on Bankruptcy Exemptions. If your property serves as collateral for a debt (such as your mortgage or car loan), there are other considerations.
Below you'll find articles explaining what happens to your property in both Chapter 7 and Chapter 13 bankruptcy, and links to other sections with more in-depth articles.