you may have to sell certain property you own. With a Chapter 13, you won't. Most states have bankruptcy exemptions that allow individuals to keep their home and car in a Chapter 7 bankruptcy.

“What happens depends on whether your payments are current, the type of bankruptcy and whether your property has legal protection from creditors,” says Laura Adams, personal finance expert and ...

Chapter 7 bankruptcy may allow you to ... You might even have to part with important property like your vehicle. For many people, a personal vehicle is an essential lifeline.

Of the six types of bankruptcy ... considers them necessities. "Exempt property typically includes necessary items such as clothing, household goods, and personal vehicles, but can vary by ...

Knowing which assets you can protect under bankruptcy exemptions is critical. Exemptions vary by state and determine what property you can keep, such as your home, car or personal belongings.