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Your Property in Chapter 7 Bankruptcy
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What happens to your property in Chapter 7 bankruptcy? The answer depends, in large part, on whether the property is secured or unsecured, and whether an exemption protects some or all of your equity in the property.
Below we discuss what happens to particular types of property in Chapter 7 bankruptcy, like your car, home, bank accounts, and more.
Overview Articles
What happens to your property in Chapter 7 bankruptcy?
Learn what you can and cannot keep in Chapter 7 bankruptcy.
Even if your property is not exempt, the trustee may "abandon" it. Learn what that means.
What Happens to Certain Types of Property?
Find out if your money is safe in Chapter 7.
Here's what you can do to keep your bank account funds during bankruptcy.
Find out what happens to tax refunds if you file for Chapter 7 bankruptcy.
For the most part, your 401ks, IRAs, and other retirement accounts are safe in Chapter 7 bankruptcy.
Options for Dealing With Secured Property in Chapter 7 Bankruptcy
If your property is encumbered by a loan, you must decide what to do with the property in Chapter 7.
You can keep secured property in Chapter 7 by reaffirming the debt.
You can return secured property to the lender and then discharge the debt in Chapter 7 bankruptcy.
If you want to keep secured property in Chapter 7, you can "redeem" it. Learn how.
Nolo's Chapter 7 Bankruptcy Books
Get detailed Chapter 7 bankruptcy information and do-it-yourself help from Nolo.
The New Bankruptcy: Will It Work for You?
Is bankruptcy the right solution for your overwhelming debts? Pick the best strategies for your situation with the information and practical suggestions in this book by best-selling author Stephen Elias.
Is bankruptcy the right solution for your overwhelming debts? Pick the best strategies for your situation with the information and practical suggestions in this book by best-selling author Stephen Elias.
How to File for Chapter 7 Bankruptcy
The reliable, up-to-date information in this best-selling book will help you successfully complete your bankruptcy claim without breaking the bank.
The reliable, up-to-date information in this best-selling book will help you successfully complete your bankruptcy claim without breaking the bank.
Bankruptcy for Small Business Owners: How to File for Chapter 7
With this book, you can assess the financial condition of your business, determine whether you should declare bankruptcy, and complete the bankruptcy paperwork.
With this book, you can assess the financial condition of your business, determine whether you should declare bankruptcy, and complete the bankruptcy paperwork.
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