Find the best financial services for you at: SMARTFINANCESOLUTIONS.NET - Does Bankruptcy chapter 7 allow me not to repay the home equity loan if there is no equity in it, but I keep i? - Good day! br I would like to ask a question, which may help me to determine whatever to file a bankruptcy or not to. br I do have a house and pay mortgage (current). I am going to keep a house if file for a bankruptcy. br On the other hand I do have an equity loan (secured by my house) from the lener other than my mortgage lender. br My question is - can I claim equity loan ($100,000) as unsecured - and so dischargable debt as there is no equity in my home and appraisal only showing about 250,000 value , but mortgage is 500,000.