In a nutshell, the answer is, “It depends.” The two most common types of consumer bankruptcies are Chapter 7 and Chapter 13 bankruptcies. Of those two, the one you hear most about, and the topic of this article, is Chapter 7 bankruptcy (this article will also only discuss personal bankruptcies and not corporate or business bankruptcies). Under Chapter 7, a person eliminates all of their debt (excluding certain debts that are not dischargeable), in exchange for (at least in t