Your Property in Chapter 7 Bankruptcy
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Chapter 7 bankruptcy is called the liquidation bankruptcy for a reason -- you get to discharge most or all of your debts, and in return you give up property to repay your unsecured creditors. The reality, however, is that most Chapter 7 debtors give up little or no property. This is because state and federal law protects some of your property with "exemptions."
Below you'll find articles on what happens to your property in Chapter 7 bankruptcy, along with articles on exemptions -- how they work and what they are in your state.
Articles on what happens to your home in Chapter 7.
Find out what happens to your car, learn about the motor vehicle exemption, figure out your options for leased cars, and more.
How will bankrupcty affect your 401(k), IRA, pension, and other retirement plans?
If the trustee abandons your property Chapter 7 bankruptcy , you get to keep it. Find out more.
You can keep income earned after your Chapter 7 filing. But income earned before you file is part of your bankruptcy estate. Find out if you can keep it.
If your property is not exempt in Chapter 7 bankruptcy, you still may be able to keep it. Learn how.
If you receive an inheritance within 180 days of your Chapter 7 bankruptcy filing, the trustee may be able to take it.
In most cases, you can keep past and future disability payments in Chapter 7 bankruptcy. Get the details.
Learn how some simple planning can allow you to keep your tax refund if you file for Chapter 7 bankruptcy.
Exemptions play a large role in whether you can keep property in Chapter 7 bankruptcy.
Click on the link to find general articles on exemptions, exemption amounts in each state, and more.
If you have secured property, you have to let the court know what you plan to do with it -- keep it or surrender it.
Whether you want to keep or surrender secured property in Chapter 7 bankruptcy, here are your options.
Learn what happens to ongoing leases and contracts when you file for Chapter 7.
In Chapter 7 bankruptcy, the trustee can assume or terminate unexpired leases or executory contracts. Learn more.
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