As a resident in Ohio who is currently struggling with debt, you are likely looking over your possible bankruptcy options. There are two primary options available: Chapter 13 and Chapter 7. Depending on your unique situation, one will likely benefit you more than the other.

Chapter 7 bankruptcy, according to the United States Courts, essentially allows you to liquidate valuable assets in exchange for relief from a majority of the debts you are carrying. Some types like student loans are not lifted, but others like medical debt or credit card debt can be absolved through this method. Some property may be exempt from liquidation like items of sentimental value. However, high value items like jewelry and cars are usually among what’s liquidated.

So the question is: who is this type of bankruptcy good for? If you can’t possibly re-work your current payment plans in a way that makes it manageable to pay off your debts, then this is for you. It’s the better bankruptcy option for you if you’re low income, don’t have a job or another source of steady income, or would otherwise struggle extensively with debt for a long time due to the inability to reliably make payments without gaining more interest-related debt in the process.

Of course, there are some downsides to this type of bankruptcy as well that will be discussed in the future. But if you’re looking for a bankruptcy-related solution and you’re trying to decide which to possible option you should go with, keep these factors in mind.