For the average person, financial help is sometimes hard to find. Most of us are only one health scare or layoff away from needing financial help.

Fortunately, bankruptcy acts as a safety net. It exists to help people.

While some bankruptcy filers are facing an immediate financial crisis, many others have never missed a payment– but they are making very high debt payments each month.

Many people realize they will never be able to save for a home or retirement if they are paying hundreds or even thousands of dollars each month to credit card payments.

In addition to solving immediate financial crises, bankruptcy’s financial clean slate makes it possible to reach other financial goals. 

Bankruptcy can help you:

• Discharge unsecured debts,
• Discharge judgments,
• Discharge some taxes,
• Prevent liens on assets,
• Prevent or stop wage garnishments and bank levies,
• Get back funds previously taken in a garnishment or bank levy,
• Avoid judicial liens in some cases,
• Stop foreclosures, evictions, and  repossessions,
• Eliminate the need to make high debt payments every month,
• Save for retirement,
• Save for a home, and
• Save for education expenses.

Continue Learning About Bankruptcy

For additional examples of how bankruptcy helps people, please visit: How Can Bankruptcy Help Me? What Kinds of Problems Can Bankruptcy Solve?

If you are considering filing bankruptcy in the near future, there are some steps you should take to prepare.  Learn more about bankruptcy planning here: Considering Bankruptcy? Mistakes to Avoid

To get answers to some of the most common questions about bankruptcy, visit our Bankruptcy Frequently Asked Questions section.