For many of our clients bankruptcy at first feels like a scary thing, but once they understand the protections and benefits of bankruptcy they feel much more comfortable with their decision to file. Bankruptcy is a financial decision and a powerful legal tool.

The Benefits of Bankruptcy

Bankruptcy offers a number of benefits. The main benefit is relief from debt. Bankruptcy has the power to eliminate debts, including credit cards, medical bills, certain older tax debts, personal loans, and other types of credit or loans that were given without a collateral requirement. After a successful filing, you are no longer legally obligated to pay back your dischargeable debts.

Also, bankruptcy allows you to erase debts while retaining most or all of your assets and personal belongings. For example, ERISA qualified retirement accounts are fully protected in bankruptcy. Also, depending on your specific situation you will most likely be able to keep your car and your home. Generally speaking, it is more likely that you can keep your car or home if your payments are current and you do not have significant equity.

The Protections of Bankruptcy

The United States Bankruptcy Code affords people who need to file many protections, including:

  • The Automatic Stay: a provision in the U.S. Bankruptcy Code that makes it illegal for creditors to attempt to collect on debts from a person who has filed for bankruptcy protection. The Stay becomes effective immediately, as soon as the bankruptcy case is filed.
    • Stops collection phone calls.
    • Stops wage garnishments, bank levies, and lawsuits for unpaid debts.
    • Stops, at least temporarily, foreclosure, repossession, and eviction.
  • Protection of property: Bankruptcy law protects exempt property from being seized and sold by creditors. As noted above, the majority of people who file get to keep most or all of their assets and belongings.
  • Catch up on mortgage arrears or missed car payments: Chapter 13 bankruptcy creates an opportunity for debtors to catch up on missed mortgage or car payments. Through the Chapter 13 repayment plan, which lasts three to five years, missed payments can be made up. This option enables people to retain their home or car that would otherwise be lost.


The full scope of the legal protections bankruptcy offers is vast. We invite you to come in for a free consultation to learn more about the protections and benefits of bankruptcy.

We Can Help You Get Out of Debt

Here at the Law Office of Barbara B. Braziel, we help people get out of debt. We are the premier bankruptcy law firm in Savannah, GA and we practice exclusively in bankruptcy law. Our experienced attorneys are committed to ensuring you understand the protections and benefits of bankruptcy and how filing with affect you and your family. We invite you to get to know us here and read about the clients we’ve helped here.

Call us today at (912) 351-9000 or contact us to schedule a free consultation. 

Find out more about Bankruptcy in our guide: All About Bankruptcy

We are a debt relief agency. We help people file for bankruptcy relief under the U.S. Bankruptcy Code.

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