How property and then I keep, if I Chapter 7 bankruptcy file?

If you are bankruptcy Chapter 7 filing, get to keep "heavy" and must sell all non-free". Exemption laws vary from State - no universal list of what you can keep property exists. FunctionYou can keep each property that sets your status as elusive. In fact, the laws of the States have a numeric value of certain assets and this property.ExampleSay value your state law keep authorized a $20,000 homestead exemption. Own a home, a value of $100,000, the trustee to sell the House and $80,000, enabling you 20.000 US US dollar States for your exemption.TypesMost, deem your House, car, similar exceptions - one countries accessories furniture and clothing.Wild CardSome "wild card liberation", which allows allow you to keep each property that you want, up to a certain value. Some States, for example, allow an exemption from $20,000 for nothing in the world - including cars, TV and boats.Expert InsightIf, you may have assets, such as a house or a car, which offers a loan as mortgage or car loan calculation your equity in the property. Take if your capital exceeds liberation of the country you it may be useful the loan to reduce your net worth and cash out, before you to refinance for Chapter 7 file. Contact a lawyer, but as bankruptcy laws can prevent these operations.