What will I lose and What will I get to keep?

What you can keep in a bankruptcy case depends on a number of different things. First, it depends on which bankruptcy chapter you file.  Chapter 7 is the only chapter where your assets might be at risk.  In Chapter 13 and Chapter 11 you get to keep your assets so long as you pay out their non-exempt value to your creditors over time. Second, it depends obviously on the value of the assets, which you have not disclosed. Third, it depends on what exemptions are available under applicable law to protect those assets. Exemptions are "protections" for value you have in certain assets such that they are "exempt" from collections.  Every state has different exemptions amounts available. Exemption laws are based on the state where you resided for the 2 years prior to filing your bankruptcy case or, if you lived in more than 1 state during that period, in the state where you resided for the greater part of the 180 days prior to that 2 year period.  Retirement funds are always protected (with some rare exceptions). The only way to find out what is at risk in your case is to have a consultation with an experienced bankruptcy lawyer in your area. Mark Markus has been practicing exclusively bankruptcy law in California since 1991.  He is a Certified Specialist in Bankruptcy Law by the State Bar of California Board of Legal Specialization,  AV-Rated by martindale.com, and A+ rated by the Better Business Bureau.