Bankruptcy Myth 20
You can pick and choose which assets and debts to include.
I am sorry, but all assets and all debts must be listed in your bankruptcy, even assets that were gifts and debts that you want to repay. To hide an asset or intentionally fail to disclose a debt is against the law. The good news, however, is that most people are able to keep their house, cars and all other personal belongings. As a general rule, so long as you stay current on the loan, you can keep the property. And after bankruptcy, you are free to repay debts to anybody you want, including your friends, family members and medical providers.
