If you have any non-exempt property, the trustee (the person assigned to manage your bankruptcy) will decide whether it's worth selling. You may be able to negotiate to keep certain non-exempt property by giving up exempt property instead.
If you have a non-exempt, secured loan, you must give the property back, pay it off, or reaffirm the debt.
A secured loan is a loan in which the borrower pledges some asset as collateral, such as a car loan or mortgage loan.
To “reaffirm” means that you agree that you will still owe it after your bankruptcy case is over.
