Bankruptcy will allow you to wipe out your legal obligation to pay most of or all of your unsecured debts. This is called a “bankruptcy discharge”. Its purpose is to give you a financial fresh start.

Bankruptcy will allow you to stop foreclosure proceedings against your house and allow you the opportunity to catch up delinquent payments over a 36 to 60 month time period rather than requiring an unaffordable immediate payment. Bankruptcy does not eliminate your need to pay your mortgage but it allows you to catch up delinquent payments in an affordable manner.

Bankruptcy will often allow you to prevent repossession of a car or other property and to recover such property even after it has been repossessed or levied upon. Once again, you will most likely not eliminate your obligation to pay but you will be allowed to pay on far more favorable terms.

Bankruptcy will allow you to stop wage garnishment’s, debt collection harassment, and similar actions taken by creditors to collect a debt. Once bankruptcy is filed, creditors must stop collection activities. You will no longer be afraid to answer your telephone. You will once again be able to get a good night’s sleep.

Bankruptcy can help you to take back control of your own life.