can you lose your home

Chapter 7 allows discharge of your debts after liquidating all the assets. In chapter 13, you have a repayment plan with the creditors through the trustee. This plan is usually for 3 to 5 years.

:( I just want to know, if I file a bankruptcy, can I keep my house and car. I have to have the car inorder travel to and from work. what kind of bankruptcy is this?

Talk to a bankruptcy attorney and figure out the best move in your situation. If you can afford the repayment plan in chapter 13, you will be able to keep your house and car.

In case you are unable to afford the plan, chapter 7 will get your debts discharged but you will be at the risk of losing your assets.

Read this complete article

http://www.debtconsolidationcare.com/avoid-bankruptcy.html

In either Chapter 7 or 13, you will still need to pay for the property if you want to keep it.

In a 13, all your debts (secured and unsecured) will be combined into a monthly plan based on your income and living expenses. You will pay the trustee once a month, and the trustee will pay each of your creditors. The trustee will not act to injure the secured creditors (by letting the property depreciate quicker than you are paying it off), so your plan will usually require you to make about the same monthly payments to them as you previously were.

In a 7-liquidation, you may be able to reaffirm the house and car and keep making payments to those individual creditors to keep the property. However, if you have a lot of equity in your home, then the trustee will want to sell of your home to satisfy the unsecured creditors.

by fileing chapter 13 will my retirement plan at work be in jeopardy

In TX you do not loose your home or retirement during bankruptcy. There are other states with similar laws. Do a search on a search engine concerning your state's laws.

Each state has their own exemption rules, request a free consult with a bankruptcy attorney they will be able to tell you what exemptions are allowed.