While you may be able to strip these off of your home in a Chapter 13, in a Chapter 7, you may still be able to effectively ignore it and keep your home.  However, the 2nd Mortgage or Heloc would still have a lien on the property.  You would then have to settle the lien or in some manner deal with it later. 

IT WORKS PRETTY MUCH LIKE THIS:

CHAPTER 13 HANDBOOK FOR RIVERSIDE DIVISION

Chapter 13 Bankruptcy or Debt Consolidation Bankruptcy can allow you to cram down the balance on your car to it's value.  Also, if you're behind in payments on your mortgage, you can cure the arrears (amounts you're behind) with a chapter 13 bankruptcy.  You can also Strip your 2nd Mortgage or HELOC, Home Equity Line of Credit off of your home.  CALL TO FIND OUT IF YOU QUALIFY TO STRIP YOUR 2ND MORTGAGE OR HELOC OFF OF YOUR HOME

800 FILE AWAY 800 345 3292

This is a Straight Bankruptcy, also called a Liquidation Bankruptcy.  Under the Bankruptcy Reforms of 2005 you must pass a complicated test called the Means Test in order to file under Chapter 7.  However, in my experience most people pass. CALL TO FIND OUT IF YOU QUALIFY FOR A CHAPTER 7 BANKRUPTCY

800 FILE AWAY 800 345 3292

Business Bankruptcy is available.  For most sole proprietorships and partnerships, your bankruptcy proceeds as a normal consumer bankruptcy and simply creates more work for your attorney.  Small and mid-sized corporations can be treated the same in most cases.  For a larger corporation where the corporation must file and desires to continue operating you may want to consider a Chapter 11 Bankruptcy.  CALL TO FIND OUT WHAT KIND OF BANKRUPTCY IS RIGHT FOR YOUR BUSINESS

800 FILE AWAY 800 345 3292