Consumer Chapter 13 Bankruptcy Overview
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You currently have enough extra money at the end of the month to pay your credit card minimum payments. This, of course, is getting you nowhere. You'll have the same debt in 8 years, and will still be paying $700 or $1000 or whatever it is each month... forever. There's a way to eliminate debts on your terms, like debt consolidation.
Or you're behind in your mortgage payments, and want to keep your home. And you have extra money each month you'd like to use to catch up, but the mortgage company won't work with you.
In either situation, you can take that money you have left at the end of the month and start reducing the debt you owe so that you're out of debt in 60 months.