You need to list all of your assets on the bankruptcy petition. There are state exemptions for personal property that are available to debtors in a Chapter 7 Bankruptcy. These exemptions allow the debtor to keep certain property from liquidation.
You should consult a local bankruptcy attorney. Most bankruptcy attorneys offer a free initial consultations to determine the merits of your case.
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 Oct 18th, 2012 at 4:35 PM