What Are The Benefits of Filing for Bankruptcy?
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Transcript
It's common for people to wonder, what are the benefits of filing bankruptcy? What is the big benefit?
And the benefit is, in my opinion, and I don't know that anyone would disagree, is getting a fresh start. Most folks, all their stuff is exempt. They get to keep it, file Chapter 7 bankruptcy, keep your stuff.
And you walk away from your debts, like medical debt and credit card debt.
And you can start life over without those payments.
And without those bills around your neck like an albatross, so that fresh start, being able to rebuild and start your life over without all the debt, that's the benefit of filing bankruptcy.