Rydal, GA Bankruptcy Law Firms & Lawyers

That depends on what exemptions you have available to you under applicable state or federal law when you file your case. Exemptions are "protections" for value you have in certain assets such that they are "exempt" from collections.  Every state has different exemptions amounts available. Exemption laws are based on the state where you resided for the 2 years prior to filing your bankruptcy case or, if you lived in more than 1 state during that period, in the state where you resided for the greater part of the 180 days prior to that 2 year period.   You need to consult with a bankruptcy attorney in your area for more details. Mark Markus has been practicing exclusively bankruptcy law in California since 1991.  He is a Certified Specialist in Bankruptcy Law by the State Bar of California Board of Legal Specialization,  AV-Rated by martindale.com, and A+ rated by the Better Business Bureau.  

There are several factors that come into play after a bankruptcy is filed to determine whether property is retained by the debtor and any co-owners. It depends mainly on whether the property is claimed exempt. Assuming the property has little or no equity it probably can be retained. This is a complicated issue and you should seek the advice of an attorney who is a certified specialist in bankruptcy law. consult the State Bar for a listing of those attorneys in your area.

Either chapter will protect you from a deficiency judgment. What you should consider is whether the state's anti-deficiency statutes protect you even outside of a bankruptcy.