Very simply:

Bankruptcy PROTECTS you from collections actions by creditors and is aimed at DISCHARGING most or all of your debt.

The number one reason for bankruptcy:

#1 = COLLECTIONS actions by a creditor

Collection actions include:

• HARASSING TELEPHONE CALLS
• INTIMIDATING LETTERS
• SUMMONS TO APPEAR IN COURT
• COURT ORDERED JUDGMENTS
• GARNISHING WAGES
• GARNISHING BANK ACCOUNTS
• REPOSSESSING CARS, FURNITURE, APPLIANCES . . . .

The number two reason for bankruptcy:

#2 = You have accumulated an amount of DEBT that is UNREASONABLE and OVERWHELMING. As a result of this DEBT, you are unable to pay your living expenses and the debt payments. Something has to give!

The causes of unreasonable and overwhelming debt include:

• UNPLANNED MEDICAL BILLS
• LOSS OF INCOME DUE TO ILLNESS
• JOB DISLOCATION
• COURT ORDERED PAYMENTS
• WAGE GARNISHMENT
• LIVING BEYOND YOUR MEANS
• ACCUMULATED CONSUMER DEBTS
• UNEXPECTED EXPENSES
• ADDITIONS TO THE FAMILY