Yes it depends upon what you want to keep and whether the property is collateral.

Answer Applies to: Georgia
Replied: 1/11/2012

Disclaimer: The response above does not form an attorney-client relationship. This answer may or may not apply to you and should not be relied upon as legal advice. LawQA does not make any representation as to the expertise or qualifications of this attorney. This attorney may or may not be admitted to state bar of your state.

You entitled to keep your exemptable assets under any bankruptcy chapter you file or even if you don't file. If you want to keep any assets that are not exempt, you can keep those in a Chapter 13 if you can afford to pay the estate the value of those assets through a payment plan.

Answer Applies to: North Carolina
Replied: 1/9/2012

Disclaimer: The response above does not form an attorney-client relationship. This answer may or may not apply to you and should not be relied upon as legal advice. LawQA does not make any representation as to the expertise or qualifications of this attorney. This attorney may or may not be admitted to state bar of your state.

You generally keep all your assets if you file a chapter 13 bankruptcy. The chapter 13 trustee is not a liquidated trustee. As long as the best interest of the creditors test is met, you get to keep your assets and the plan is feasible.

Answer Applies to: Colorado
Replied: 1/7/2012

Disclaimer: The response above does not form an attorney-client relationship. This answer may or may not apply to you and should not be relied upon as legal advice. LawQA does not make any representation as to the expertise or qualifications of this attorney. This attorney may or may not be admitted to state bar of your state.

In a chapter 13 you keep all assets, including those that are not exempt. You must meet the liquidation test for a plan to be confirmed. This means you must pay creditors at least as much if this were a chapter 7 liquidation.

Answer Applies to: California
Replied: 1/6/2012

Disclaimer: The response above does not form an attorney-client relationship. This answer may or may not apply to you and should not be relied upon as legal advice. LawQA does not make any representation as to the expertise or qualifications of this attorney. This attorney may or may not be admitted to state bar of your state.

Chapter 13 bankruptcy represents a payment plan. Thus, unsecured creditors are paid based on demonstrated income less monthly expenses. To retain possession of secured assets such as a home and car you must agree to make past-due payments (known as "arrears") over the life of the Plan, and commence making the usual and customary monthly payments going forward. Under those circumstances, you will be entitled to keep most if not all your assets.

Answer Applies to: Illinois
Replied: 1/6/2012

Disclaimer: The response above does not form an attorney-client relationship. This answer may or may not apply to you and should not be relied upon as legal advice. LawQA does not make any representation as to the expertise or qualifications of this attorney. This attorney may or may not be admitted to state bar of your state.

You are able to keep assets of yours - you can exempt certain assets up to a certain value. I would contact an attorney to determine if you can exempt all assets you have an interest in.

Answer Applies to: Michigan
Replied: 1/6/2012

Disclaimer: The response above does not form an attorney-client relationship. This answer may or may not apply to you and should not be relied upon as legal advice. LawQA does not make any representation as to the expertise or qualifications of this attorney. This attorney may or may not be admitted to state bar of your state.

Generally one keeps everything in Chapter 13. You need to see a lawyer to go over the specifics.

Answer Applies to: California
Replied: 1/6/2012

Disclaimer: The response above does not form an attorney-client relationship. This answer may or may not apply to you and should not be relied upon as legal advice. LawQA does not make any representation as to the expertise or qualifications of this attorney. This attorney may or may not be admitted to state bar of your state.

First, you need to consult a BK attorney. If you qualify for a Ch 7 that might be the way to go. Second, generally speaking in a Ch 13 you do not surrender assets.

Answer Applies to: Colorado
Replied: 1/6/2012

Disclaimer: The response above does not form an attorney-client relationship. This answer may or may not apply to you and should not be relied upon as legal advice. LawQA does not make any representation as to the expertise or qualifications of this attorney. This attorney may or may not be admitted to state bar of your state.

Chapter 13 involves a bankruptcy court-supervised repayment plan, whereby you repay part or all of your creditors, followed by a discharge or cancellation of debt. Chapter 13 plans are usually funded through payments from your income, not the sale or liquidation of assets. There is no "liquidation Trustee" in Chapter 13. The Trustee in a Chapter 13 case is a paying agent, i.e., in addition to other duties, they basically receive and disburse the money that you pay to them through your monthly payments. In Chapter 13, you typically keep all of your assets. If you have assets that you cannot claim as "exempt" you must either pay your creditors the value of your "non-exempt" assets, or you can propose as part of your plan that you sell the non-exempt assets and pay the proceeds to your plan, in addition to your regular plan payments.

Answer Applies to: Texas
Replied: 1/6/2012

Disclaimer: The response above does not form an attorney-client relationship. This answer may or may not apply to you and should not be relied upon as legal advice. LawQA does not make any representation as to the expertise or qualifications of this attorney. This attorney may or may not be admitted to state bar of your state.

A debtor who files Chapter 13 does not lose any property because 13 does not involve liquidation of assets only liquidation analysis.

Answer Applies to: Indiana
Replied: 1/6/2012

Disclaimer: The response above does not form an attorney-client relationship. This answer may or may not apply to you and should not be relied upon as legal advice. LawQA does not make any representation as to the expertise or qualifications of this attorney. This attorney may or may not be admitted to state bar of your state.

The idea of a chapter 13 is to keep all of your assets. Your attorney should be able to give you more details based on what assets you have.

Answer Applies to: New York
Replied: 1/6/2012

Disclaimer: The response above does not form an attorney-client relationship. This answer may or may not apply to you and should not be relied upon as legal advice. LawQA does not make any representation as to the expertise or qualifications of this attorney. This attorney may or may not be admitted to state bar of your state.

Generally you can keep everything as long as you're paying at least the value of the assets in the chapter 13 plan.

Answer Applies to: Florida
Replied: 1/6/2012

Disclaimer: The response above does not form an attorney-client relationship. This answer may or may not apply to you and should not be relied upon as legal advice. LawQA does not make any representation as to the expertise or qualifications of this attorney. This attorney may or may not be admitted to state bar of your state.

Yes, generally, chapter 13 allows one to keep their home, cars and all other property.

Answer Applies to: Illinois
Replied: 1/6/2012

Disclaimer: The response above does not form an attorney-client relationship. This answer may or may not apply to you and should not be relied upon as legal advice. LawQA does not make any representation as to the expertise or qualifications of this attorney. This attorney may or may not be admitted to state bar of your state.

There are many things you can keep under the bankruptcy exemptions, and by filing a chapter 13 depending on what you can pay, there may be much more.

Answer Applies to: Michigan
Replied: 1/6/2012

Disclaimer: The response above does not form an attorney-client relationship. This answer may or may not apply to you and should not be relied upon as legal advice. LawQA does not make any representation as to the expertise or qualifications of this attorney. This attorney may or may not be admitted to state bar of your state.

In a Chapter 13 case, you generally get to keep all of your property. The Chapter 13 plan must provide a means of paying your secured creditors and providing adequate protection for their security interest. Any property that is security for a debt that you do not want to pay can also be surrendered back to the creditor in a Chapter 13 case.

Answer Applies to: Georgia
Replied: 1/6/2012

Disclaimer: The response above does not form an attorney-client relationship. This answer may or may not apply to you and should not be relied upon as legal advice. LawQA does not make any representation as to the expertise or qualifications of this attorney. This attorney may or may not be admitted to state bar of your state.

The beauty of filing Chapter 13 is that you typically can retain all your assets. You will use exemptions to exclude some of your assets. If there are assets that cannot be exempted, you must pay off enough of your debt to equal the value of those non-exempted assets. So depending on the value of your assets and the amount of debt you have, you can fashion a Chapter 13 plan that allows you to make payments to creditors, discharge any debts that cannot be paid during the plan, and retain your assets. You should consult with an attorney to see whether Chapter 13 is in your best interests and to make sure your assets will be protected.

Answer Applies to: Wisconsin
Replied: 1/6/2012

Disclaimer: The response above does not form an attorney-client relationship. This answer may or may not apply to you and should not be relied upon as legal advice. LawQA does not make any representation as to the expertise or qualifications of this attorney. This attorney may or may not be admitted to state bar of your state.

There are several assets you are allowed to keep. There is a misconception that you will lose everything if you file for Bankruptcy. This is not the case. In a Bankruptcy, you are allowed to exempt certain property from being taken from you. Call a bankruptcy Attorney to find out which property you will be allowed to keep as it varies from State to State.

Answer Applies to: Georgia
Replied: 1/6/2012

Disclaimer: The response above does not form an attorney-client relationship. This answer may or may not apply to you and should not be relied upon as legal advice. LawQA does not make any representation as to the expertise or qualifications of this attorney. This attorney may or may not be admitted to state bar of your state.

Generally, you are able to keep all of your assets in a Chapter 13 bankruptcy.

Answer Applies to: Kansas
Replied: 1/5/2012

Disclaimer: The response above does not form an attorney-client relationship. This answer may or may not apply to you and should not be relied upon as legal advice. LawQA does not make any representation as to the expertise or qualifications of this attorney. This attorney may or may not be admitted to state bar of your state.

If you file a chapter 13, you should be able to keep assets. You are able to protect property in a chapter 13 case. So, I think you need to know the value of the assets because there are limits of how much you can protect. You might need to consult an attorney to see if your assets exceed the amount you can protect.

Answer Applies to: California
Replied: 1/5/2012

Disclaimer: The response above does not form an attorney-client relationship. This answer may or may not apply to you and should not be relied upon as legal advice. LawQA does not make any representation as to the expertise or qualifications of this attorney. This attorney may or may not be admitted to state bar of your state.

You can keep all the property that you can exempt under the California exemption laws. There are also exemptions for retirement plans under federal law that you can use for union and other pensions, 401k plans, IRA accounts, and other IRS-approved retirement plans. The exemption laws in California are very generous so most people can exempt all they have. If any property you have is not exempt or you do not have enough exemptions available because the property is more valuable than the amount of the exemption allowed, then the value of any unexempt property you want to keep can be paid in the Chapter 13 plan over a period of up to 5 years. If you can exempt all of your property then you might not need to file a Chapter 13 case. Obviously, you need to consult with an attorney to decide what is the right Chapter for you, how much of your property you can exempt and how much you would have to pay in a Chapter 13 case if that the right Chapter for you.

Answer Applies to: California
Replied: 1/5/2012

Disclaimer: The response above does not form an attorney-client relationship. This answer may or may not apply to you and should not be relied upon as legal advice. LawQA does not make any representation as to the expertise or qualifications of this attorney. This attorney may or may not be admitted to state bar of your state.

In a chapter 13 you don't lose assets as you could in a chapter 7. You would be paying back anywhere from a portion to all of your debts over a period of 3-5 years.

Answer Applies to: New York
Replied: 1/5/2012

Disclaimer: The response above does not form an attorney-client relationship. This answer may or may not apply to you and should not be relied upon as legal advice. LawQA does not make any representation as to the expertise or qualifications of this attorney. This attorney may or may not be admitted to state bar of your state.

Chapter 13 entails a payment Plan, and not liquidation of assets. However, the extent of one's assets may have bearing on the threshold payment amount; excessive assets may render the Plan unviable. On a tangent, a chapter 13 trustee won't liquidate an asset, but he may, for example, frown upon a payment plan that shortchanges creditors by virtue of your retaining a rental property with negative income. T

Answer Applies to: California
Replied: 1/5/2012

Disclaimer: The response above does not form an attorney-client relationship. This answer may or may not apply to you and should not be relied upon as legal advice. LawQA does not make any representation as to the expertise or qualifications of this attorney. This attorney may or may not be admitted to state bar of your state.

You do not lose your assets in a chapter 13. If there is an item that has more equity in it than what can be protected by exemption statutes, you have to pay that amount over a 3-5 year period. If you want to surrender an item (such as car that you owe more on than what it is worth) you can do that, too.

Answer Applies to: Virginia
Replied: 1/5/2012

Disclaimer: The response above does not form an attorney-client relationship. This answer may or may not apply to you and should not be relied upon as legal advice. LawQA does not make any representation as to the expertise or qualifications of this attorney. This attorney may or may not be admitted to state bar of your state.

Usually all

Answer Applies to: South Carolina
Replied: 1/5/2012

Disclaimer: The response above does not form an attorney-client relationship. This answer may or may not apply to you and should not be relied upon as legal advice. LawQA does not make any representation as to the expertise or qualifications of this attorney. This attorney may or may not be admitted to state bar of your state.

Often people keep all of their assets in a chapter 13.

Answer Applies to: Colorado
Replied: 1/5/2012

Disclaimer: The response above does not form an attorney-client relationship. This answer may or may not apply to you and should not be relied upon as legal advice. LawQA does not make any representation as to the expertise or qualifications of this attorney. This attorney may or may not be admitted to state bar of your state.

Yes, check out CCP 703 & 704 exemptions.

Answer Applies to: California
Replied: 1/5/2012

Disclaimer: The response above does not form an attorney-client relationship. This answer may or may not apply to you and should not be relied upon as legal advice. LawQA does not make any representation as to the expertise or qualifications of this attorney. This attorney may or may not be admitted to state bar of your state.

Trustees in Chapter 13 bankruptcies do not sell assets, so you can keep anything you are not surrendering under the plan. Your assets may require you to pay a percentage back to your unsecured creditors.

Answer Applies to: Georgia
Replied: 1/5/2012

Disclaimer: The response above does not form an attorney-client relationship. This answer may or may not apply to you and should not be relied upon as legal advice. LawQA does not make any representation as to the expertise or qualifications of this attorney. This attorney may or may not be admitted to state bar of your state.

Chapter 13 provides the debtor with the option of keeping certain property as long as the debtor can finance an approved payment plan by the Ch. 13 Trustee. It allows debtors to keep real property and other secured assets like vehicles.

Answer Applies to: New Jersey
Replied: 1/5/2012

Disclaimer: The response above does not form an attorney-client relationship. This answer may or may not apply to you and should not be relied upon as legal advice. LawQA does not make any representation as to the expertise or qualifications of this attorney. This attorney may or may not be admitted to state bar of your state.

You can keep everything in a chapter 13, provided that the aggregate of your plan payment is at least as much as the value of your properties. Chapter 13 is very complicated, I only know of one case ever being confirmed in Miami Dade in the past decade, the stats are better in Broward and Palm beach but not by much.

Answer Applies to: Florida
Replied: 1/5/2012

Disclaimer: The response above does not form an attorney-client relationship. This answer may or may not apply to you and should not be relied upon as legal advice. LawQA does not make any representation as to the expertise or qualifications of this attorney. This attorney may or may not be admitted to state bar of your state.