What are my option Chapter 7?
The possessions you are allowed to keep are called “exempt property.” Most people do not lose any of their possessions in a chapter 7 bankruptcy proceeding. Whether you would lose any possessions requires an in depth consultation with one of the bankruptcy attorneys.Whether or not you lose possessions in a chapter 7 bankruptcy case is only one of many considerations that have to be evaluated before we would recommend that you file a Chapter 7 case.
Chapter 7 ends with an Order of Discharge that protects you from all discharged debt in the future.
Many people keep car loans, home loans, and other debts. This is no problem. To be legally accountable for a debt after bankruptcy you must reaffirm the debt, which is a form you complete and file with the court. Often we make other arrangements with a creditor that allows my clients to keep possessions subject to a lien, like a car, home, or mobile home, and continue to make payments on them.
You can repay any debt that has been discharged after your Discharge voluntarily, in whole or in part. What about the fees?