What Happens to Your Property in Bankruptcy?

Is Your Pension Exempt in Bankruptcy?

If you have a pension and you file for Chapter 7 bankruptcy, you can probably exempt at least some of your pension and protect it from the bankruptcy trustee.

Will I Lose My Checking or Savings Account if I File Bankruptcy?

If you file for Chapter 7 bankruptcy, will you be able to keep your savings, checking, or other bank accounts? The answer depends on what you mean by "keeping."

Will I Lose My Rental Property If I File for Bankruptcy?

Do you own rental property? If you own a house, an apartment, commercial space, or a multi-unit building that you rent out to tenants, then you should consider how it will be affected if you file for bankruptcy.

What Happens to Investment Real Estate in Bankruptcy?

If you own property that you don't use as a residence, you might lose it if you file for Chapter 7 bankruptcy.

Your Personal Property in Chapter 7 Bankruptcy

When filing for Chapter 7 bankruptcy, many debtors are able to keep most or all of their personal property. What you are allowed to keep depends on what property is deemed "exempt" by your state or the federal bankruptcy exemptions.

Can I Keep My Cash in Chapter 7 Bankruptcy?

If you have cash on hand when you file for Chapter 7 bankruptcy, you may be able to keep some or all of it. Both federal and state laws provide exemptions that allow debtors to keep a certain amount of cash when they file for Chapter 7 bankruptcy.

Chapter 13 Bankruptcy: What If I Have a Lot of Equity in My Home?

If you have a lot of equity in your home, filing for Chapter 13 bankruptcy can allow you to keep your home and reorganize your debts. But if you can’t exempt all of your equity, you may have to pay back a significant portion of your unsecured debts through your repayment plan. Read on to learn more

How Does Social Security Affect Disposable Income in Chapter 13 Bankruptcy?

In most courts, if you have a significant amount of Social Security income, the court will take this into account when approving your Chapter 13 plan payments.

Can Chapter 7 Bankruptcy Save My Home From Foreclosure?

Although Chapter 7 bankruptcy can temporarily stop foreclosure proceedings, it's ability to ultimately save your home from foreclosure is limited. Below you can learn how your mortgage is treated in Chapter 7 bankruptcy, why Chapter 7 isn't usually the best way to save your home, and the limited ways

Can You File for Bankruptcy If Your House Is in Foreclosure?

Learn how you can use a bankruptcy case to save your home from foreclosure.

Chapter 13 Bankruptcy: What If I Have a Lot of Equity in My Home?

If you have a lot of equity in your home, filing for Chapter 13 bankruptcy can allow you to keep your home and reorganize your debts. But if you can’t exempt all of your equity, you may have to pay back a significant portion of your unsecured debts through your repayment plan. Read on to learn more

What Happens to Mortgages in Bankruptcy

A major concern for most homeowners who are contemplating bankruptcy is how bankruptcy will affect their mortgage. The good news is that your mortgage company cannot raise your interest rate or change other terms of your loan to punish you for filing bankruptcy. But there are several other things you should know about how fi

Will Chapter 7 Bankruptcy Prevent a Car Repossession?

If you are not making timely car loan payments, Chapter 7 bankruptcy cannot permanently prevent a car repossession. However, Chapter 7 can temporarily delay the lender from repossessing your car and allow you more time to negotiate or cure your default.

What Happens to a Car Lease in Chapter 7 Bankruptcy?

What happens to your car lease in Chapter 7 bankruptcy depends on whether you are behind on your payments and on what the bankruptcy trustee decides to do with the lease – the trustee can assume or reject the car lease.

Your Car in Chapter 13 Bankruptcy

In Chapter 13 bankruptcy, you get to keep your car and pay off your car loan through a repayment plan. Further, you may even be able to reduce the principal balance and interest rate on your car loan.

How to File Bankruptcy Without Losing a Car

Whether you can keep your car in bankruptcy depends on the answers to these three questions