In many cases, you will retain your house and your car during the filing of your bankruptcy cases until the equity value in your property is deemed as fully exempt (see Texas bankruptcy exemptions). Even in he case of your property not being fully exempt, yo0u will still be able to hold on to it if you are able to pay the non-exempt value to your creditors in the case of a Chapter 13 filing. You have to note that some creditors will have `security interest’ as far as your property or your car is concerned. This is because you have given your creditor a collateral support for the debt as mortgage on the house or pledging some other property against default on your payments. Filing for bankruptcy does not nullify these security interests. When you fail to make payments on your debt, your creditors will still be able to seize your property during and after the filing of the bankruptcy case. There are ways by which you can retain the collateral or a mortgaged property when you file for bankruptcy. You have to agree on continuing with the payments on your debt until the loan amount is fully paid. Another way out is to pay your creditor that specified amount of the current value of the property that you may be trying to hold on to. In few cases that involve an improper conduct or fraud on part of your creditors, you can dispute the debt. You can also keep your house without making further debt payments if you place the household goods in the form of collateral towards a loan which is different from one to buy those goods.