Bankruptcy can seem like an easy solution to debt problems, but it isn't without consequences. It is true that many of your debts may be "erased," but there is a price to pay for that freedom. I always advise my clients to explore every possible alternative to bankruptcy, from cutting spending and simplifying their lifestyle to selling unnecessary property and negotiating with creditors. Sometimes bankruptcy truly is the best option, so it's wise to familiarize yourself with some of the possible consequences you'll deal with after filing.
