Most people that file a Chapter 7 Bankruptcy usually get to keep all, or most of their property and the consequences to their credit rating are often no worse, and may in fact be better than the alternatives. The average case takes about 5 months to complete as opposed to years with the alternatives. If you qualify for a Chapter 7 Bankruptcy you can:
None of the other alternatives can guarantee all of those results. But you can’t figure out whether a Chapter 7 bankruptcy, or some other alternative would work best for you by looking at a website or reading a book. You need to personally talk with someone who can look at your specific situation and advise you about the alternatives and the best course for you.