Bankruptcy Law Questions? Ask a Bankruptcy Lawyer Now.
Bankruptcy law is federal law, thus its application would be the same anywhere in the United States.
If you file a Chapter 7, which is a complete liquidation, you only have to pay back whatever pro rata percentage of debt your liquidated assets will pay. There is no set percentage.
If you file a Chapter 13, which is a reorganization of debt into a 3-5 year repayment plan, you will get to keep all assets and pay 100% of the debt off.