What will happen to my House and Car?

This is a big concern for people that consider bankruptcy as a means for getting their debt problems under control. In order to address this and all the other questions that people have about bankruptcy, I offer a free Debt Consultation for people that want to see how bankruptcy would benefit them. Call us at 210-930-7000 to schedule your appointment.

There is a general rule in bankruptcy and outside of bankruptcy: If you want to keep your possessions, then you must continue to pay for your possessions. So, if you want to keep your house or car, you simply keep paying for them.

What if the house and car are paid for? You still get to keep the house and car because they are considered exempt property. The vast majority of filers get all or most of their debts discharge (wiped-out) without giving up any of their own property.  This is because federal as well state laws provide exemptions for your property.  Exempted property is property such as household goods and personal belongings, which you may keep despite your bankruptcy.

Need Help Understanding All Your Options?

Want To See How Bankruptcy Might Benefit You?

Call 210-930-7000 To Schedule Your Free Debt Consultation.