Filing for bankruptcy could mean that you have to sell some of your belongings in order to repay your debts.

When you file for bankruptcy, the court appoints a trustee who is in charge of selling any assets you own in order to repay your creditors. This can include property, cars, or anything else that has value. You may also have to make regular payments to the trustee who will then distribute the money among your creditors.

Keep in mind that declaring bankruptcy is a serious decision and should not be taken lightly. It will likely have a negative impact on your credit score and could make it difficult for you to obtain credit or loans in the future.

Leave a Reply

Your email address will not be published.