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Benefit from the Experience of Attorneys Bill and Valerie Sherman Former Assistant Attorney General, Assistant County Attorneys and Magistrate Judge

Can I Keep My Jewelry If I File For Bankruptcy?

Question: Over the past few years I've bought some jewelry for my wife and some items for myself, like wrist watches. Now I can't really afford to make the payments. If I file bankruptcy, either a chapter 7 or chapter 13 can I keep what I bought?
Answer: The state of Georgia and the Atlanta metro area have many fine jewelry stores including: Georgia Artisan Jewelry Co., Brown & Company Jewelers, Carnegie Jewelry, Girardin Jewelers, Inc., Greene's Jewelers, Inc., Haney Jewelry Company, Helzberg Diamonds, J.C. Grant Company, JWR Jewelers, Levy Jewelers, Levy Jewelers, Mucklow's Fine Jewelry, Redfern Jewelers , Schomburg's Jewelers, Scott's Jewelry, Tena's Jewelry & Gifts, Tena's Jewelry & Gifts, Tena'sJewelry & Gifts, Tiffany & Co., V. V. Vick Jewelers, Sabri Guven, and Iroff & Sons. And many of them carry fine watch brands like Rolex, Patek Philippe, Timex, Seiko, Cartier, Bulova and Tag Heuer along with a wide assortment of rings, bracelets, earrings, and diamonds, etc.
In determining how personal possessions that have been financed will be a affected by bankruptcy some of the issues bankruptcy attorneys and bankruptcy trustees look at are value, when was the object purchased, and depreciation. But generally speaking, most people do keep their jewelry and collectibles when they file bankruptcy.