Personal bankruptcy an help individuals who are overwhelmed by debt.
It provides a structured way to manage and potentially eliminate debts while
getting a fresh financial start.

There are two main types of personal bankruptcy:
Chapter 7 and Chapter 13.
 

Chapter 7 is typically used to liquidate assets to repay creditors. In many cases, certain assets, such as a primary residence and necessary personal belongings, are exempt from liquidation.
 

Chapter 13 is a reorganization plan that allows individuals to repay their debts over a period of three to five years. Under this plan, individuals may be able to keep their assets while making monthly payments to their creditors.

Please note: Bankruptcy is a complex legal matter. It's important to consult with a qualified bankruptcy attorney to determine the best course of action for your specific situation.