Which property you if hold bankruptcy?

Filing bankruptcy, your real and personal property does not at the risk of a sale or auction to meet your debt. State and federal law combine, offer to provide you with tangible protection through which hold the property with at least some of your assets. IdentificationAlthough bankruptcy is a federal court action, the exemptions established by the law of the State in which the special bankruptcy court located.ExemptionsDespite a few minor deviations of a State to another, there are common exceptions. It was residence of the debtor, a car, furniture, clothing and tools of the trade.TypesThere are two types of consumer bankruptcy. Your debts and chapter 13 free Chapter 7 bankruptcy, bankruptcy can pay your creditors on two to five years.Chapter 7 BankruptcyIn bankruptcy, a chapter 7 are capable of holding assets only except. Other sections of the properties available for sale to BankruptcyThrough reimburse bankruptcy chapter 13 13 creditors.Chapter, hold probably all, almost all your assets. In case of Chapter 13 numbers you your debts that sell your property in most cases unnecessary.