Can I choose which accounts to add to bankruptcy? 3 Answers as of August 27, 2010

You can't pick and choose what debts you pay and don't pay. You must completely disclose all your assets and liabilities in bankruptcy. The success rate of someone handling their own bankruptcy in poor. Take advantage of a free consultation offered by a local bankruptcy attorney and find out what your true options are.

Lawyers are not mandatory.

If your case is simple enough you can do it on your own. The most difficult part is selecting the correct exemption statutes for Schedule C. Items of property which are exempt are the items which you can keep. So, what you need to do it on your own is the correct list of statutes.

Go to

http://www.justice.gov/ust/r15/docs/chapter7/standing_administration_guidelines.pdf

for a list of the Trustees Guidelines in San Diego, California. If you are outside of California, this resource will not be helpful.

Go to

http://www.bklaw.com/california_bankruptcy/california-bankruptcy-exemptions-703.html

for one set of the exemptions which are available in California. I like to call this the renters exemptions. If you have no home or no equity in your home, then you have no need for a homestead exemption. Read this list of exemptions and you will see that these are a great list of exemptions if you do not need a homestead exemption.

Go to

http://www.bklaw.com/california_bankruptcy/california-bankruptcy-exemptions-704.html

for a complete list of the exemptions if you own a home that has equity that has to be protected.

You will read in these statutes that you cannot mix and match. You get to pick one set or the other.

Good luck.

No. All of your creditors have to be listed. Secured creditors such as car payments have to be included as well but you are able to keep a vehicle a home or other needed secured debts.

You do not have the ability to prefer one non secured creditor (such as a credit card) over another.