- Pressure is taken off you because you don't have to deal with your creditors.
- You are allowed to keep certain things, like household goods.
- When the bankruptcy order is over, you can make a fresh start. In many cases, this can be after only 3 years
- The money you owe can usually be written off.
- Creditors have to stop most types of court action back following a bankruptcy order
- Most creditors have to stop chasing you for the debt and make their claim to the executor instead;
- It’s a chance to make a fresh start.
- You don't have to personally deal with creditors
- You may have the opportunity to buy back some of your assets.
