Will I lose my property if I file for bankruptcy?

If you file for bankruptcy in Indiana, you may not necessarily lose property or assets that you own. Often times with certain types of bankruptcy filing, such as Chapter 7, you may be able to keep your property or assets if they have little to no value. The Indiana bankruptcy court will review your property and assets to determine their worth. Assets that are protected by Indiana law, such as pensions, retirement savings, Social Security benefits, and cash value life insurance policies may not be subject to liquidation under the bankruptcy laws. Additionally, Indiana also permits a debtor to keep a certain amount of equity in a home and motor vehicle. In some cases, you may even be able to keep the majority of your property depending on the jurisdiction in which you live. For this reason, it is important to speak with a qualified attorney to gain a better understanding of the bankruptcy process and what property you may be able to keep after filing for bankruptcy.

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Will I lose my property if I file for bankruptcy?

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