by golding » Tue Apr 12, 2011 2:34 am
That depends on the type of bankruptcy you file. Your lawyer will discuss the differences between Chapter 7 & Chapter 13 with you, and help you decide the best option. More than likely, if you file Chapter 7, and you can afford to pay for your home and one vehicle while still maintaining a reasonable monthly means of living, you will be allowed to keep them. Each state will have its own rules for reasonable means of living standards, so you really need to check with a bankruptcy lawyer. The only debts that can be wiped off your records are either secured loans where you surrender the property (things), or unsecured credit (such as credit cards). School loans and some medical bills can not be removed.