Chapter 7 is what most people think of when they think of filing for bankruptcy.
It's the "flavor" of filing BK that entails getting all of your
debt discharged. People get in over their heads, and they need a life preserver,
a fresh start, a second chance. Chapter 7 wipes the slate clean (as opposed
to Chapter 13, which gives people the opportunity
to make payments on their debt).
You have the Constitutional right to file bankruptcy. The question remains... is it right for you?
Next: Discharging all Debts