Q: Is the bankruptcy trustee going to take my pets? I really want to keep my dog and cat!
A: We've never seen that happen. A Bankruptcy Trustee does not usually worry about a pet. However, the Trustee will seize an animal if it has substantial commercial value (like a race horse, a cow, steer, etc.). In a Chapter 13, pet expenses are permitted, as long as they are reasonable, so you are permitted to continue to be able to pay for your pet's food and veterinary care.
And since most people do not finance the purchase of a pet, in most cases dogs, cats, fish, lizards, snakes and birds are not repossessed. There are, of course, exceptions for valuable farm animals. Horses, cows, hogs and sheep and other farm animals are different than pets. They may have substantial resale value.