Generally, the greater your dischargeable debt — debts that can be wiped out in bankruptcy — in proportion to your ability to pay, the more beneficial bankruptcy would be.

Bankruptcy is often the only sure way to prevent unsecured creditors — a person or a company that loaned you money without collateral security — from pursuing a monetary judgment against you in court. Bankruptcy also can prevent any garnishment of wages or other income after the bankruptcy petition is filed.

Bankruptcy may be the only possible way to keep or regain a driver’s license subject to revocation because of an unpaid accident judgment.