Advantages of Filing Bankruptcy

Here are some of the advantages you may be entitled to receive depending on the type of bankruptcy you file:

  • Immediately stops all calls and letters from bill collectors.
  • Immediately stops all home forecosures and lawsuits.
  • Does not affect car payments if you want to keep your car and continue making payments.
  • Stops interest charges on credit cards.
  • Gives you a fresh start.
  • May allow for reinstatement of your driver's license if it was suspended because of an auto accident.
  • Opens up the door for new credit (including VISA and MASTERCARD).
  • Allows you to catch up on car and house payments.
  • Gets rid of past due bills.
  • Stops bank garnishments and wage deductions.
  • Allows you to keep all of your personal belongings and furnishings (up to a legal limit which has doubled since the beginning of the year).
  • Cancels all past due utility bills with only a deposit needed to reinstate service.
  • Allows you to immediately start a new savings plan.