If you have no assets you can use to settle with your creditors, and after you pay all of your necessary living expenses you have no disposable income to pay debts such as credit card bills, medical bills, unsecured loans and other consumer debts, you may qualify for discharge of your debts under Chapter 7 bankruptcy protection. Filing bankruptcy can lead to a discharge of your debts, which could enable you to get the fresh start you need to reestablish your credit, and, most importantly, to reestablish a sound financial position for yourself and your family.