Possibility of Keeping Your House in Bankruptcy Bankruptcy Exemptions. ... This is more commonly used for personal property, like vehicles, but can apply to houses in certain circumstances.

When filing for bankruptcy, it is best to over-disclose to avoid the risk of unintentionally hiding assets. Assets that require disclosure fall into three main categories: personal property, real ...

Personal property used as a residence. Vehicle exemptions. ... According to federal bankruptcy exemption law, you may be able to exempt part of your vehicle’s equity up to $4,450.

Some personal property is exempt from liquidation in a Chapter 7 bankruptcy, though there are limits on the value of the exemption. Examples include: Homestead ...

The goal of declaring bankruptcy varies, but usually involves the dissolution of burdensome unsecured debt (as in Chapter 7 bankruptcy) or debt restructuring or repayment (as in Chapter 11 or ...

Julia Kagan is a financial/consumer journalist and former senior editor, personal finance, of Investopedia. Samantha (Sam) Silberstein, CFP®, CSLP®, EA, is an experienced financial consultant ...