What happens when you file for chapter 7 bankruptcy?

Chapter 7 bankruptcy is common when people can't pay off there debt. The process might take a few months to complete, but is really straight forward. After filling out various forms and applications, the courts appoint a trustee who gather all your belongings (assets of value), sells them, and then distribute the money from the sale accordingly to your creditors. This type of bankruptcy will wipe off most of your debt, but some of your debts might still get passed through being that there are items that might not be discharged, such as a car loan, and of coarse any debt that might have been acquired with the intent to defraud a creditor. Any debts still owed will there after be sold to a collection agency, and it will just be a matter of time before you start getting those pesky calls around dinner time.