Depending on the type of debt, there may be other solutions available to get you the relief you need. For example, if you are facing foreclosure, mortgage modification may be an option to help you avoid foreclosure as well as bankruptcy. However, while many individuals fear the aftereffects of bankruptcy on their credit report, bankruptcy can actually put you in a strong position for the future. Through bankruptcy you can begin rebuilding your credit. Also, during bankruptcy, creditor harassment, foreclosures and other collections practices will be stopped. This can help you get a fresh start for the future.