Can I keep my house and car if I file for bankruptcy?

If you file for bankruptcy, whether you can keep your house and car depends on various factors. If you opt for Chapter 7 bankruptcy, it may be possible to keep your house and car if you are current on the payments and the equity you hold falls within the exemption limits set by your state. However, if you choose Chapter 13 bankruptcy, you may have more flexibility in keeping your assets, as it involves creating a repayment plan to catch up on missed payments. Ultimately, the decision is based on your specific circumstances, including your income, the value of your assets, and the type of bankruptcy you file. It is advisable to consult with an attorney or a bankruptcy specialist at Suntrust Bankruptcy Department to understand the options and implications based on your situation.