Your Assets and Bankruptcy

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FAQs

Will I be required to sell my assets?
Yes. A lot of your property which is deemed a necessity will not be released, but filing bankruptcy (under Chapter 7) will … more
If I file for chapter 7 can I keep some of my property?
In general, Chapter 7 bankruptcy gives up all of your non-exempt property. Exempt property is property defined by state … more
Can’t I just transfer my assets to a friend or a living trust before I file for bankruptcy?
These types of transfers may be considered fraudulent and your Chapter 7 trustee may be able recover the property within a year … more

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