If we are talking about your debts and/or your assets, in short, everything is included in your potential bankruptcy case.
But this does not mean that you will not be able to keep your car (and your car payment if you have one), your house (and your house payment if you have one), and other assets which you own. All debts are disclosed, but not all debts are treated the same way (for example, Student Loans are listed and included in every bankruptcy case, but they are rarely discharged). All assets are disclosed, but only assets over the exemptions are an issue for liquidation in Chapter 7 or what you must pay your creditors under the Best Interest Test in a Chapter 13.
So, when we ask for documentation regarding all your debts, we mean ALL your debts. And when we ask you to list all your assets, we mean we need you to list ALL your assets on the Personal Property inventory form. Perhaps not every fork and spoon, but anything with value; and for example, for things like silverware, you can group them (for example, various kitchen utensils and cookware (total value $25 for a single person). If you have special silverware set or fine china, you may have a higher value. For “value”, we use a garage sale/Craigslist (what would you sell it for as is?) value.
Bankruptcy is all about disclosure. Very rarely is a problem keeping a house, a car, or personal property. Even if there is an exception issue, we have ways to work around it through Chapter 13 or non-Bankruptcy options.
Call us today at (615) 264-5695 for a free consultation via phone, in-office, or video conference with experienced Bankruptcy Attorney Eric Fox and learn if Chapter 13 bankruptcy is right for you.
We are located in Hendersonville, Tennessee and have been assisting residents all over Middle Tennessee for 18 years. Our office hours are Monday through Friday from 9:00 a.m. to 5 p.m., with evening and weekend appointments available upon request. We are here to help you.