The filings of personal bankruptcies are at record levels. It is very likely that if you are considering a bankruptcy, you know other people who have already filed a bankruptcy. These facts alone demonstrate the devastating impact of the current recession. Every day people come to my office who have been carrying the burden of crushing debt for years. Many of them have paid off the original amounts that they borrowed several times over. Unfortunately, due to excessive interest rates on many of their credit cards, they have made little or no progress in reducing their debt. Many clients have either lost their jobs or have suffered deep cutbacks in the work that is available to them. Other clients suffer - or their loved ones suffer - from terrible, debilitating illnesses. Sadly, some of the greatest casualties of this recession are marriages and family relationships because it is an inescapable fact that insurmountable financial burdens lead to anxiety, guilt and strife in these relationships. A bankruptcy under Chapter 7 leads to a discharge of debts and frequently, those who file are able to keep all of their property. A Chapter 13 is often filed if the individual is in danger of losing a secured item of property, like a home, or does not qualify to file a Chapter 7. Please select the Chapter that you are interested in learning more about: