There are ways in which filing bankruptcy will help you. First, it provides an immediate stop to all collections efforts. This includes harassing phone calls, lawsuits, wage garnishments, and bank levies. Chapter 7 bankruptcy will wipe out most, if not all, of your debts… Forever!!!! Chapter 13 bankruptcy can provide you time to restructure your debts allowing you to do so in an orderly well thought out fashion. This restructuring is overseen by the court and prevents creditors from playing tricks to derail your plan. There are numerous other benefits to filing bankruptcy that we cover during our free in-depth consultation.