There is no doubt there are drawbacks to filing bankruptcy.  But there are also many benefits that the media and many individuals rarely focus on.  Below is a list of some of the common, and significant, benefits of filing bankruptcy.  Because the facts of every case are different, not every benefit is realized by every client.  However, most clients can and do benefit enormously from filing bankruptcy.  Some of the benefits can include:

Harassing bill collectors will stop calling.  Your attorney will deal with your creditors so you don't have to deal with them.

Most lawsuits against you are suspended or eliminated.

Large amounts of debt can be wiped out.

By eliminating many bills, you can start saving for your retirement or children's college funds.

Bankruptcy can stop home foreclosure sales.

Bankruptcy can keep your car from being repossessed.

Improved Health - Stress has been proven in many medical studies to have a very real and very detrimental effect on a person's health.  Getting your finances under control through bankruptcy greatly reduces the amount of stress in most people's lives.   

Improved Credit Scores - Many clients considering bankruptcy already have relatively bad credit scores.  And although filing a bankruptcy will lower your credit score initially, it may also allow the score to start rising in the future.  Doing nothing, by contrast, can keep the credit score low for a long time to come.

Quick Results.  Unlike other areas of the law where it may take years to see tangible results, you can come under the protection of the Bankruptcy Court within days of first coming into our office.