Chapter 7 is the most common type of bankruptcy filed. Under Chapter 7, most of your debts will be eliminated or discharged. You will no longer have any legal obligation to pay these debts. Filing a Chapter 7 will normally give you the right to keep your home, automobile, household furnishings, and most other assets. If you owe money on your home or automobile and wish to keep them, you should continue to make the payments during and after bankruptcy has been filed.

When Filing any type of bankruptcy, you will receive immediate relief from your creditors. As soon as your petition is filed, you come under the protection of the United States Bankruptcy Court. Creditors are not permitted to call you demanding payment.