Chapter 13 bankruptcy gives a person a path to a fresh start by establishing a payment plan to pay off some or all of your debt. With a chapter 13 bankruptcy, you can keep your assets and pay your creditors in a way that works best for you. Your payment plan will be one monthly payment in an amount that you can afford.
A chapter 13 bankruptcy will stop a foreclosure before the trustee's sale and it will stop a repossession of your motor vehicle.
If you owe income taxes, a chapter 13 will stop the interest and penalties and allow you to pay them as part of your payment plan.
If the value of your home is less than the amount owed to the first mortgage, you might be able to have the court find your second or third mortgage to be wholly unsecured.