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We are asked this a lot – the answer depends on a couple of things.
First the house: if you have accumulated any equity in your home and you file for bankruptcy you will be required to pay an amoutn equal to your equity to your trustee if you want to keep your house. If there is no equity you simply keep making your mortgage and other house payments. If there is negative equity (ie the hosue is worth less than what you owe) you have the right to keep it, but your trustee will suggest you think long and hard before you make that decision. Sometimes it makes more sense to surrender your house and start over if the negative equity is too large.
For the car: if your payments are current when you file then you make simply keep making your payments and keep the car. If your payments are not curent you should speak to the lender BEFORE you file and work out a plan to bring the account current. If you don’t, they may use the fact that you are in arrears to complicate things.