These debts (like credit cards, medical bills, and payday loans) are discharged completely, and you will never have to deal with nasty phone calls, rude collectors, or threats of lawsuits. This fresh start with a clean slate is one choice available to get you out of your financial dilemma.

In addition to knocking out all of your unsecured debt, a Chapter 7 bankruptcy will put an end to any wage garnishment you might have, or a bank levy against your accounts, or strip off a judicial lien that had been placed on your assets. This in turn reduces the amount of stress you have been trying to handle tremendously. And once the case is filed, you can start right away to rebuild your credit rating.

Of course, there may be other options to filing a Chapter 7 bankruptcy. At your initial consultation, other options will be discussed and may be more fitting to your individual circumstances.