If you are thinking about filing for Chapter 7 or Chapter 13 bankruptcy, you should familiarize yourself with some of the basic rules of bankruptcy. Federal bankruptcy statutes, rules, and cases, along with certain state statutes determine (among other things):
- who is eligible to file for Chapter 7 and Chapter 13 bankruptcy
- which of your debts will be discharged (wiped out) in bankruptcy
- the procedures in a typical bankruprtcy case, and
- what property you can protect in a Chapter 7 bankruptcy through "exemptions."
Below you'll find articles that describe the basics of bankruptcy -- start here to learn about the process and what is likely to happen to your debts and property. For more detailed information about bankruptcy, check out all of the articles in Nolo's Bankruptcy section.