No. Unlike other types of bankruptcy filings, Chapter 7 bankruptcy will not require you to go on a payment plan. Instead, most of your debts will be discharged, typically within 105 days of filing.nnBecause a Chapter 7 bankruptcy allows you to liquidate your debt, it is the most common type of bankruptcy for individuals. If your financial situation has become untenable, reach out to Richard Granvold to schedule a free consultation with a Federal Way Chapter 7 bankruptcy lawyer.