HERE'S WHAT HAPPENS.(Business)

Byline: Associated Press

Here is a brief look at what to expect after deciding to file for personal bankruptcy under Chapter 7 or Chapter 13 of the U.S. Bankruptcy Code, legal experts say:

YOU MUST first fill out and file with a bankruptcy court in your area a petition and several other forms detailing assets, liabilities and living expenses. Those filing a Chapter 13 petition also must include a debt-repayment plan in accordance with their income and expenses.

THE FILING immediately stops your creditors from trying to collect what you owe them, thereby temporarily preventing them from garnishing your wages or seizing assets. But a landlord, for …