Bankruptcy Under Chapter 7 bankruptcy, there are certain items you may keep which a creditor may not pursue. For example, most states will allow a person who succeeds in their bankruptcy filing to keep their clothing, social security payments that have been saved, household items, a cheap inexpensive car, house (in some states), pets, basic household appliances, some sentimental items including heirlooms, jewelry up to a certain amount and other items that are governed by state law and exempt from being seized as part of a bankruptcy proceeding.