While it's easy to focus on the downsides of bankruptcy, because no one wants to be in that situation and you have probably spent a long time trying to avoid it, there are benefits to filing for bankruptcy.
Your creditors won't call you anymore.
Once you have started the filing process these people won't have anything to say to you and if you get a stray call all you have to say if that you filed for bankruptcy, or talk to your lawyer about it, and it will go away.
The phone calls from creditors can finally stop.
This is a huge benefit for a lot of people, as the hounding phone calls do take a big emotional toll.
You're finally going to be able to handle these debts once and for all.
Instead of focusing on your past debt and problems, you can focus on rebuilding your credit and moving forward.
The process of bankruptcy will take a long time and be very draining--but so has being in debt.
Once you take that step and go through it, you'll be on the other side.
Rebuilding credit will take time, effort, and patience, but at least it will be building up towards a goal instead of scrambling to get out of a hole.
You won't be getting further into debt by trying to put things off.
Most people try to avoid bankruptcy for so long that their debts only become worse and worse.
Once it reaches a certain point it comes inevitable that you'll have to discharge your debts to get out, and while you try to fight the idea, your bills only end up later, building up more fees and interest.
While the negatives are obviously there and in your face, there are advantages to filing for bankruptcy obviously, or else why would anyone ever do it? What all of these benefits really come down to, is that you'll finally be able to start moving forward with your life.