well the advantages of filing bankruptcy are numerous bankruptcy laws a consumer protection
law– it is designed to help individuals deal with burden some credit or financial obligations to your creditors. So the law is designed to help you out it is in chapter seven you’re gonna get a complete discharge most your debts from those people on their debts chapter 13 is that force payment plan is
gonna stop interest on unsecured debt like credit cards in and medical bills or personal on time debt you can provide some relief potentially on your automobile
again that can be a case by case basis that you have to discuss with your lawyer are and you can stop chapter 13 gets off
foreclosure to give you a chance to cut back up on your mortgage what I tried to tell people is the question you wanna ask initially is are you far enough in the hole with your debts that you simply deal with the creditors on your own cannot get out at the debt own their own any reasonable period of time and for
most people is that answers no they’re not going to be able to given the interest rates the size debt and the income that people are making bankruptcy law provides the power the court to come and and restructure your debt Chapter 13 were completely wipe it off in a
Chapter seven that’s going to give people that fresh financial start