What Assets Will You Lose In Chapter 7 Bankruptcy?
Chapter 7 bankruptcy law allows people to ask a judge to discharge a large chunk of certain types of debts so they can financially recover. The big trade off in that process is that the judge will appoint a trustee to look out for the interests of your creditors. To that end, the trustee is authorized to sell your non-exempt assets and use the proceeds to pay something to the creditors before the difference is settled.