Reasons For And Against Filing Personal Bankruptcy

  • I enjoy receiving harassing telephone calls from debt collectors at all times of the day.
  • I enjoy when my doorbell rings and I meet another process server or sheriff’s deputy serving me with yet another collection or foreclosure lawsuit.
  • I enjoy receiving mail, so I don’t want to stop the endless number of letters threatening more collection and foreclosure lawsuits.
  • I enjoy having my bank accounts frozen every time one of my creditors garnishes them, and giving away part of my hard earned wages when my creditors serve my employer with a continuing writ of garnishment.
  • I want to lose my home, my personal property and my car.
  • I enjoy the disadvantageous terms of my mortgage-after all, I signed a promissory note agreeing to those terms. I also enjoy making the minimum monthly payments on my credit cards and not reducing the balance owed in any way.
  • I enjoy feeling helpless, not sleeping, and having all of my stress-related health problems.
  • I believe that if I ignore my problems long enough, they will just go away.

On the other hand, when you file for bankruptcy, you can:

  • Put a stop to the harassing telephone calls and letters from debt collectors, and halt any progress being made in collection lawsuits filed against you.
  • Stop a pending foreclosure sale on your home, a pending execution on your personal property, or a creditor from garnishing your bank accounts and/or wages.
  • Potentially negotiate new, more beneficial terms on your home mortgage with your lender, as well as potentially eliminate most, if not all, of your medical bills and credit card debt.
  • Stop feeling helpless, and obtain confidence that you have a plan of you and your family’s financial future, and start rebuilding your credit.


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