A Chapter 7 bankruptcy is often referred to as a “straight bankruptcy” or “straight liquidation” because it liquidates the debtor’s assets in order for the debtor to obtain a discharge of the debts that are subject to being discharged. In this type of bankruptcy, the debtor is obligated to disclose, under oath, all the property he or she owns and surrender all the unexempt property to the Chapter 7 Trustee. The Florida Law and Federal Bankruptcy Laws provide exemptions to keep some property such as the homestead of the debtor and some value of the personal property.