Filing for Chapter 7 bankruptcy freezes the foreclosure process and forces creditors to stop hounding you, but it also means:

• Selling certain assets to repay creditors.
• Attending credit counseling and a debtor's education course.
• Keeping a record of your bankruptcy on your credit report for 10 years.

If your income or circumstances change, then your Chapter 13 bankruptcy payment plan can change as well. Plus, you can:

• Keep your home and certain assets
• Pay creditors over time without racking up interest
• Rest easy knowing you're regaining control of your finances