Bankruptcy Law Questions? Ask a Bankruptcy Lawyer.
In general, assets are all real and personal property a debtor owns that can be sold. There is a list of property that is exempt (protected) from the Bankruptcy estate, which you can see here: http://le.utah.gov/~code/TITLE78B/htm/78B05_050500.htm
and here: http://le.utah.gov/~code/TITLE78B/htm/78B05_050600.htm.
Anything not on this list can be taken by the Bankrutpcy court. However, the debtor is usually given the option to pay - over a period of time - the value of the assets to be allowed to keep them. The value is the price those items could realistically sell for in a yard sale, not what was paid for them.
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That is up to the Bankruptcy trustee, who gets 10% of the value of all assets that he gathers and sells - and each trustee is different.
However, in general, you can expect to be able to keep anything that has a value of less than $50 - $100, because it would not be worth it for the trustee to spend time gathering and selling assets for less than that amount. Some trustees sell assets online, and some have auctions.
Anything that you need for work - including a computer - is covered under "Tools of Your Trade", for which there is a $3,500 Bankruptcy exemption. This means you can keep your computer (as long as it cannot be sold for at least $3,500).
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The Bankruptcy court cannot take your wages going forward - after the Bankruptcy is filed. However, the court can take 25% of any wages (the net, take-home portion) that are earned and not yet paid at the time the Bankrutpcy is filed.