The purpose of filing bankruptcy is normally to discharge as many dischargable debts. However, not all debts are dischargable. Such as student loans and maintenance. Or, if you decide to reaffirm a debt then it will survive the discharge.
Yes. Secured creditors may retain some rights to seize property securing an underlying debt even after a discharge is granted. If the property, like a car, was financed and the creditor took a security interest in the property, if money is still owed on the property then it is subject to repossession.
If you are considering filing for bankruptcy you should contact a bankruptcy attorney to help you explore your options. If you have questions about what bankruptcy and a discharge of debt through bankruptcy contact Rebecca Hurst of Hurst & Hurst Law at (859) 209-2101.