Bankruptcy can provide a fresh start to eligible consumers and businesses by wiping out (discharging) certain debts like credit cards and a variety of different loans. Bankruptcy can also be used (in certain circumstances) as a way to: Stop and recover garnishment funds, stop repossessions, reduce car loan balances and interest rates, stop foreclosures and cure mortgage arrears, Eliminate or reduce taxes, Eliminate lease or supplier obligations for Business Owners. Even with all of these wonderful benefits, our firm believes that bankruptcy should be a last resort for anyone in financial distress.