There has been a delusion that when and if an individual files for bankruptcy; she or he will lose everything starting from their auto and house to the spoons in their kitchens and socks in their drawers. But this is not correct. Effectively, there are some things that you are about to lose while there are a lot others you're going to keep. As an example, if the house you are living in isn't under foreclosure, then you can keep it even after you have filed for bankruptcy, and this is down to the fact that a place under foreclosure has a whole different process. More hence your private effects are also going to remain in your possession even after you have filed for bankruptcy.
