Can I keep or get rid of my computer, wedding ring and furniture?
You can keep your computer, wedding ring and furniture after filing bankruptcy.
Presuming that there is no great equity to these things and the trustee is not interested in them you will be able to keep them. If one of your debts is secured by any of these things then the same applies to these things as with a house or car. This is typical of things you purchased at electronics stores, appliance stores, jewelry stores and furniture stores when you use that store’s credit card. The difference is that you do not have to continue making payments on these things until after we reaffirm and these debts can sometimes be negotiated down in both amount owed and payment. This will be simply a matter of negotiation. If you used some other visa, MasterCard or other card, then this usually is NOT the case and you can keep the items without having to pay.
What if I decide not to keep my computer, jewelry or furniture?
If the lender has a secured interest which is usually the case when you buy such items at electronics stores, appliance stores, jewelry stores and furniture stores, using that store’s card, then you will have to return the item to the lender. Either they will pick it up or ask you to return it to the store where you purchased it.