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OWL
May 8, 2008, 03:17 PM
If you go bankrupt can the state take your belongings?

progunr
May 8, 2008, 03:28 PM
No. Bankruptcy has nothing to do with the State, it is a Federal Legal Process.

Filing bankruptcy is what prevents you from losing everything, if you have reached the point where you can no longer meet the financial obligations you have taken on.

I suggest that you do a Google search for Bankruptcy.

You will find much information, more than I have time to post here.

George_1950
May 8, 2008, 03:39 PM
I think I found this on a Google search of bankruptcy. What You Need to Know About Bankruptcy Files | DoItYourself.com (http://www.doityourself.com/stry/bankruptfile)