If you file under Chapter 7 most of your debts are eliminated. Your debts simply disappear forever! At the end of a Chapter 7 case you receive a discharge that provides you a fresh start. Chapter 7 is probably your best choice when all the following statements are true:

* You don't have any assets that you'd have to surrender to a trustee.

* You're current on home and car payments, or willing to give them up.

* You don't have much money left over each month after paying expenses.

* You haven't received a bankruptcy discharge in an earlier case filed within
    the past 8 years.