What are the advantages of Bankruptcy?
Under bankruptcy:
- The full amount of your debts are eliminated once you have completed the process and have been discharged;
- Your unsecured creditors will have to stop any collection actions against you, including garnishees. This includes legal actions and garnishees on your wages or bank accounts;
- Once you file a bankruptcy, you will no longer have to deal with the ongoing calls from your creditors and collection agencies as the Trustee takes over this responsibility;
- Normally it is the cheapest way to eliminate your debt
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How do Bankruptcies Work?
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