Skip to Content
chevron-left chevron-right chevron-up chevron-right chevron-left arrow-back star phone quote checkbox-checked search wrench info shield play connection mobile coin-dollar spoon-knife ticket pushpin location gift fire feed bubbles home heart calendar price-tag credit-card clock envelop facebook instagram twitter youtube pinterest yelp google reddit linkedin envelope bbb pinterest homeadvisor angies
Do I have to file bankruptcy on all my credit cards?

The answer is – Yes – you have to file bankruptcy on everything you own and all debts you owe

Do I have to file bankruptcy on my car?

Yes. Your bankruptcy case covers 100% of your assets and 100% of your debts. You can’t pick and choose. You may be able to keep certain assets because they are exempt. In addition, you may be able to retain certain assets on which a creditor has a lien – like your car – because you decide to continue to pay the debt to the creditor under a “reaffirmation agreement.

Do I have to file bankruptcy on my engagement ring?

Yes. An engagement ring is an asset. Depending on the value of the ring and your state’s law, it may well be exempt but it still needs to be “included in the bankruptcy

I almost never suggest that a person continue to pay a credit card debt. You are “filing bankruptcy on your credit cards” too. First of all, bankruptcy will usually result in the termination of the credit card. Even if it doesn’t, the continued use of a credit card usually is not beneficial to a person who files for bankruptcy. Improper use of credit often is a reason that you ended up in bankruptcy in the first place.

So, when you visit your bankruptcy lawyer, please don’t hold back any information. Tell your bankruptcy lawyer everything, just like you would tell your doctor all of your symptoms. Give your lawyer all of the facts and your bankruptcy lawyer will be able to protect you and your property to the fullest extent of the law.

Carolyn Secor is a Clearwater bankruptcy attorney and Clearwater foreclosure attorney serving Palm Harbor, New Port Richey, Oldsmar, Tarpon Springs, Seminole, St. Petersburg, and the Tampa Bay area.

If you would like more information on our practice, please consult our website at or call 727-335-7151.