Bankruptcy Law

Chapter 7 is a liquidation that can wipe out qualifying unsecured debts fairly quickly, but you must pass a means test and may have to give up non-exempt property. Chapter 13 is a reorganization where you keep your property and repay some or all debt through a 3–5 year court-approved plan, which can help you catch up on a mortgage or car loan.

Yes — filing triggers an "automatic stay" that immediately halts most collection actions, including most wage garnishments, lawsuits, and collection calls. Certain obligations like child support garnishments are not stopped.

Most unsecured debts — credit cards, medical bills, personal loans — are typically dischargeable. Some debts usually survive, including most student loans, recent taxes, child support, alimony, and debts from fraud.

Often yes, especially in Chapter 13 where you can cure missed mortgage payments over time. In Chapter 7 you may keep your home if your equity fits within the available homestead exemption and you stay current on the mortgage, but exemption amounts vary widely by state.

A Chapter 7 bankruptcy generally stays on your credit report for up to 10 years from the filing date, and Chapter 13 for up to 7 years. Many people begin rebuilding credit within a year or two of discharge.