The purpose of bankruptcy is to provide debt relief, not to eliminate all assets. You can typically keep most ordinary household goods and personal effects, vehicles, and other assets that do not have high resale value in a bankruptcy. However, the bankruptcy trustee can sell some nonexempt assets to repay at least part of your debts. Certain assets are fully protected, but state exemption laws determine which assets are protected and to what dollar amount. You should check with your state laws and discuss your assets with a bankruptcy attorney.