Even the Consumer Credit Counseling Service has problems getting credit-card companies to make workouts, and they're funded by creditors. Again, the most important thing to figure out first is whether or not the company has a product or service to sell on which it can make a profit. If the answer is yes, then there's usually a way to restructure your debts to allow the company to stay alive and the employees employed, and to contribute to the economy. The companies that succeeded out of bankruptcy took a hard look at liabilities and cash flow. What happens is they're undercapitalized.
Bankruptcy is a federal-court proceeding.
The exemptions available to individual debtors vary by state. And there are local variations based on judge to judge, just the same as in all other courts. We help businesses and individuals reestablish financial stability. That's the simple answer. The stigma is much, much less now than it was even 10 years ago.