A successful Chapter 7 bankruptcy will eliminate credit card bills, medical bills and personal loan debts and can stop foreclosure, repossession and wage garnishments. The fact is, if you’re having trouble making minimum payments to either a high-interest rate credit card or overwhelming medical bills, it is likely affecting your entire financial situation. It makes it harder to pay your mortgage and stay current on your car payments, and meet every other financial obligation you face in a month. When you discharge or eliminate your debt, suddenly your monthly financial obligations look much more manageable and you can turn things around.