Bankruptcy, is a debt solution which is misunderstood and tainted with a bad reputation. However, Bankruptcy allows for a discharge of your debt load and to regain control of your Budget. I hear all sorts of anecdotal horror stories when I meet with people. Some people get third party advice from friends or acquaintances. The danger is many people have preconceived none-accurate notions of which debts can be included or excluded from a bankruptcy or which assets would be seized.