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Keeping your House and Car in Bankruptcy

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Keeping your House and Car in Bankruptcy

You can keep your personal effects in bankruptcy provided they are exempt property and not subject to execution by your creditors or you pay the value of your non-exempt property back to your creditors.  This is called a reaffirmation agreement in a Chapter 7 bankruptcy.



Keeping your House and Car in Bankruptcy explains Mr. Southward is possible, even if a debt can be discharged, you may want to work out a plan with the bank to keep your car.  To promise to pay that debt, you must sign and file a reaffirmation agreement with the Court.  Reaffirmation agreements are under special rules and are voluntary.  They are not required by bankruptcy law or by any other law.  Reaffirmation agreements-

  • must be voluntary;
  • must not place too heavy a burden on you or your family;
  • must be in your best interest; and
  • can be cancelled anytime before the Court issues your discharge or within 60 days after the agreement is filed with the Court, whichever gives you the most time.


If you are an individual and you are not represented by an attorney, the Court must hold a hearing to decide whether to approve the reaffirmation agreement.  The agreement will not be legally binding until the Court approves it.


If you reaffirm a debt and then fail to pay it, you owe the debt the same as though there was no bankruptcy.  The debt will not be discharged and the creditor can take action to recover any property on which it has a lien or mortgage.  The creditor can also take legal action to recover a judgment against you.


Our toll-free telephone number is at 1-866-912-9832. You need to learn about all of your options including information about credit, debt, bill consolidation services and federal bankruptcy law. Please call us at 1-866-912-9832 so that we can discuss your case.You can also visit our web site: www.busby-lee.com. Our attorney fees are reasonable, competitive, and court- approved. It is important that you call us soon. Our office is conveniently located near the Galleria and Highway 59 on Hillcroft between Richmond and Westheimer. We also maintain a branch Katy, Texas office at 1804 Snake River Road, Suite, C Katy, Texas 77449 Call us toll-free at 1-866-912-9832 for directions to our office.


We provide bankruptcy services in the greater Houston metro area including the cities of Katy, Sugarland, Pearland, Friendswood, Clear Lake and Galveston. We also handle cases from The Woodlands, Spring and Tomball and cases in Baytown and Channelview.


We handle bankruptcy cases in all of these counties: Brazoria, Chambers, Galveston, Matagorda, Austin, Brazos, Colorado, Fayette, Fort Bend, Grimes, Harris, Madison, Montgomery, San Jacinto, Walker, Waller, Wharton



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