If your wages are presently being garnished, your bankruptcy will, in most cases, stop the garnishee. Shortly after you have signed the bankruptcy documents the Trustee will contact your creditors advising them of your bankruptcy. If creditors contact you between the time you file for bankruptcy and the time they are notified of the bankruptcy, you should refer them to the Trustee. Your bankruptcy will be recorded in the Credit Bureau records. Lending institutions consider your bankruptcy as one of many factors in rating your future credit status.
Bankruptcy eliminates most debts.
However the following obligations will remain after you are discharged from bankruptcy. Under certain conditions student loans may remain after your bankruptcy. The cost for administering a bankruptcy is paid from your existing assets. You may be required to make monthly payments to the Trustee depending on your income and expenses. If you have no assets or surplus income, you can make other arrangements with the Trustee.