QUESTION

Can you bankraupt a property only? Just the property and keep all other assets, like your car, credit cards, etc.

Asked on Oct 31st, 2012 on Bankruptcy - Maryland
More details to this question:
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1 ANSWER

There are too many different variables to answer the question of what will happen to specific assets, as it currently is asked.  It depends on numerous factual issues.  As to the question concerning inclusion of debts, you can choose what debts you intend to have discharged, and can "reaffirm" other debts, but you must list all your possessions as assets in the bankruptcy case. You should consult a local bankruptcy attorney because each state has unique exemption laws and a local attorney can determine what assets can be exempted.  Most bankruptcy attorneys offer a free initial consultations to determine if bankruptcy is appropriate. This is not intended to be legal advice, and is general in its nature. No attorney-client relationship exists or is formed by this information. Furthermore, this does not represent the views or opinions of LexisNexis or its affiliated companies.
Answered on Nov 28th, 2012 at 1:28 PM

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