If you are over your head in debt, probably the bankruptcy laws can help you. One of the major aims of the bankruptcy code is to assist a financially distressed person, whose creditors are making it impossible for him to function effectively, to get back on his own feet and become a productive member of society again. In short, your discharge in bankruptcy gives you a fresh start. The answer is no. Tennessee Law recognized that some things are necessary for a person's comfort and survival.
Most debtors have no assets above the exemptions.
Many debtors have purchased cars and other personal property on conditional sales contracts. Under the new bankruptcy code, the court must approve any reaffirmation of consumer debt except debts secured by a home or other real estate. If you want to keep the collateral, the court will only approve reaffirmations that are in the best interest of the debtor. So you may expect that the court will approve settlements with secured creditors only if you receive the value of the car, furniture, or their personal property involved. Some liens on furniture and household goods may be avoided by bankruptcy if they were used as security for a personal loan.