Most people do not loose any of their belongings in a bankruptcy. The end goal of bankruptcy is to get you back on your feet financially. Therefore, your basic necessatites are protected in bankruptcy , so to help you re-establish yourself. The equity in your home and most of your personal belongings will, in all liklihood, be protected in bankruptcy. The exemptions ( the bankruptcy law which protects your assets ) are very complicated and you should consult an attorney to maximize the protection that you are afforded under bankruptcy law.
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