I have my vehicles paid off. If I file chapter 13, will I be required to sell them to pay my debt?

Generally speaking, you do not have to sell property to pay debts in a Chapter 7 bankruptcy or a Chapter 13 bankruptcy. In bankruptcy you have both federal and state exemptions that protect different types of property. If your property can be fully protected by using those exemptions then you will not have to sell or pay any additional money to creditors because of these assets. However, if you have too much equity in property and you cannot protect it all, you may be required to either surrender that property (in a Chapter 7 bankruptcy) or pay the non-exempt equity amount back in your Chapter 13 bankruptcy. In other words, in a Chapter 13 you don't have to give up that property but it may make your monthly Chapter 13 payments higher than they otherwise would be. By contacting an experienced attorney they will help guide you and ensure that you use exemptions properly to protect as much property as possible and, in turn, save you as much money as possible. Terry Duncan Charlotte, NC Bankruptcy Lawyer