WHAT ARE THE ADVANTAGES OF FILING FOR BANKRUPTCY?
There are several advantages to filing for bankruptcy. By far, the most important advantage is that you can obtain a financial “fresh start.” Consumers who file for Chapter 7 bankruptcy will be discharged from (forgiven from paying) most unsecured debts while keeping most (if not all) of their assets. Another advantage is that collection efforts must legally cease once your case is filed.
If a creditor does not cease its efforts, that creditor may...
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