If you own your home and autos free and clear of all liens, in most Chapter 7 cases, you will be able to keep these items.

If you owe money on your house and cars, filing for a Chapter 7 bankruptcy does not mean that you will have to give these items up. You will, however be required to be current on these payments at the time you file your Chapter 7 bankruptcy case and make sure that you continue to pay your payments every month after you file.

If you want to keep these items, you may be required by the your mortgage company or your car creditor to reaffirm these debts. If you would like to know what a reaffirmation is and whether or not you may be required to file a reaffirmation agreement if you file a Chapter 7 bankruptcy, just call my office; we’ll sit down to review your situation and see if reaffirmation is right for you.