Another negative consequence of bankruptcy is that if you cannot pay your debts, but you have assets that could be put toward those debts, they will be sold by your Bankruptcy Trustee. Certain things are protected, such as your personal effects, household goods and a vehicle worth up to $9,400. But if you have a property, shares, a vehicle worth more than $9,400 or any other assets of value, they will need to be surrendered. In the event that your vehicle is sold, the protected amount of $9,400 will be returned to you so that you can buy a cheaper vehicle.