text: can someone apply for a partial bankruptcy? i lost my job, took a pay cut, now have $25000 that i can't even make the minimum payment on.  i have a car payment that i make (bought the car before i was fired).  thanks for your help! there are different types of bankruptcy. a chapter 13 bankruptcy might work for you. under chapter 13, you keep some of your more important possessions such as your home and its mortgage, while other items such as cars, furniture, appliances, etc...must be returned (with their debts released). the bills that cannot be wiped free, such as the mortgage and student loans, will be consolidated with the payment due to a trustee. i'm sure the laws are different in different states, so consult a lawyer. make sure you use bankruptcy as a last resort. the damage to your credit will be a hardship for several years. good luck!