What can bankruptcy do?

Bankruptcy may make it possible for you to:

• Eliminate the legal duty to pay most or all of your debts.  This is called a “discharge” of debts.  It is designed to give you a fresh financial start.
• Stop foreclosure or repossession of a car or other property so you can catch up on missed payments. But, in most cases, you will still need to choose between continuing to make payments or giving the property back.  Bankruptcy won’t eliminate a lease, mortgage or car loan and let you keep the property at the same time.
• Stop wage attachments, debt collection harassment, and similar creditor actions to collect a debt.
• Restore or prevent termination of utility service.
• Allow you to challenge creditors who have committed fraud or who are otherwise trying to collect more money than you really owe.