Mr. Knewtson offers chapter 7 bankruptcy services in the Washington County and Portland Oregon area. Chapter 7 bankruptcy is the "liquidation" bankruptcy. Any non-exempt property is taken by the trustee and sold and the proceeds applied to your debt and the trustee's commission. Most people do not lose property in a chapter 7 case. Their property is protected by exemptions. The most common way to lose property is too not disclose the property to your attorney or the trustee.