When someone is so stressed out and debilitated by their debt, they might choose to file Chapter 7. It’s unbelievable how the burden is lifted after filing chapter 7. A person can breathe a little more freely as huge amounts of debts are absolved where before they had no way of getting out from underneath them. Chapter 7 bankruptcy is a legal way by which a person’s financial assets are liquidated in order to cover the individuals outstanding debts. A court decides a trustee to entrust the debtor’s financial assets to. Most of the time in a bankruptcy filing the debtor loses none of their property.