In a Chapter 7 or Chapter 13 procedure, most assets are usually protected. Bankruptcy may provide total protection for a home, car or other vital property. The amount of property that debtors can protect from creditors through exemptions in bankruptcy is, in many states, far greater than the amount that they can protect under the state law. If the value of the property does not fit within the bankruptcy law exemptions, then the difference would become part of the bankruptcy estate. Please consult an attorney for further clarification.