Can I keep my home and/or car after I file bankruptcy?

You won’t lose your home or car in the course of your bankruptcy case providing your equity in the property is completely exempt. Even if your property is not entirely exempt, you might still be able to hang on to your property by filing a chapter 13 bankruptcy as an alternative of a chapter 7 bankruptcy. In a chapter 13 plan, you will be required to pay as a minimum the equivalent of the non-exempt equity you possess in your home or car and any amount you are behind on your home or car loan over the time of the three to five plan. You additionally will be expected to carry on making the regular monthly payments.

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