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

Yes, you can usually keep your house and car when filing for bankruptcy. In Chapter 7 bankruptcy, you can exempt a certain amount of home equity and car value, depending on state laws. If your equity or value falls within the exemption limits, you can retain your assets. However, if you have significant equity or own luxurious vehicles, the trustee might sell them to repay your creditors. Chapter 13 bankruptcy allows you to create a repayment plan to catch up on missed mortgage or car loan payments, enabling you to keep your home and car. It's crucial to consult a bankruptcy attorney who can assess your situation, explain the exemptions in your state, and guide you through the bankruptcy process to safeguard your assets.