Wanting to file but what can we keep?

[Rain2674]

Hi
My husband and i are considering BK, but before we consult the lawyer i wanted to be sure if we can keep our cars, financed thru the credit union? We are current on all loans as of now, but have lots of debt on credit card due to my husband getting laid off last year, and making close to nothing this year. Both cars we have are two years away from being paid off, and monthly payment is very low on both, so we would want to keep them..
Also we are currently undergoing a loan modification on our house which is also giving us a very low monthly payment(lower than any apartment you can rent in Phoenix), so we would definitely want to save our home.
My questions are if we would be allowed to retain our vehicles and home?
We live in Phoenix AZ.
Thanks in advance!

[NewPage]

http://www.thebankruptcysite.org/exe...s/arizona.html

[newbie2]

Hi
My husband and i are considering BK, but before we consult the lawyer i wanted to be sure if we can keep our cars, financed thru the credit union? We are current on all loans as of now, but have lots of debt on credit card due to my husband getting laid off last year, and making close to nothing this year. Both cars we have are two years away from being paid off, and monthly payment is very low on both, so we would want to keep them..
Also we are currently undergoing a loan modification on our house which is also giving us a very low monthly payment(lower than any apartment you can rent in Phoenix), so we would definitely want to save our home.
My questions are if we would be allowed to retain our vehicles and home?
We live in Phoenix AZ.
Thanks in advance!

Do you have any other loans through the credit union, or just the cars? The reason I ask is because of cross collateralization (search the forums for that term).