Filing a Chapter 7 bankruptcy has the benefit of getting rid of most if not all of your debts. However, there are disadvantages to filing Chapter 7 as well.  In most cases, the pros of filing Chapter 7 far outweigh the cons of filing bankruptcy.  Only an experienced bankruptcy attorney can help you determine if filing bankruptcy is right for you.

However, for a chart comparing the pros and cons of Chapter 7 you can read, “Pros and Cons of Declaring Bankruptcy under Chapter 7.”