Bankruptcy | The Truth

Bankruptcy Pros

There is one simple advantage of bankruptcy.  Bankruptcy will help you deal with your debt.  In a Chapter 7 bankruptcy, many people can file the case and obtain a discharge of their debt in less than 6 months.  For Chapter 13 bankruptcy, you can make affordable payments over the course of 3 to 5 years max and get rid of your debt when you complete the plan payments.

There are a number of other pros, but the point is simple.  If you cannot pay your bills, living month to month, borrowing from peter to pay pall or if your debts are going into collections or are already there, bankruptcy might be an option for you.  Make sure you ask your bankruptcy attorney about other debt relief options in order to make an informed decision.