I dont understand

[jfuller10]

I don't understand what is the point to file bankruptcy if you have to pay 100% back?

[Pandora]

because it eliminates the interest rates, it can allow you to catch up any arrears on your home if you want to keep it thereby avoiding foreclosure, you can strip your 2nd in some cases, it can allow you to pay back taxes, etc in a structured plan - so on and so on and so on.

There are many reasons to file - and benefits of doing so even if you end up in a 100% plan.

[SMinGA]

Pandora is right - just wanted to add, though, that if your attorney is recommending a 100% payback you should ask questions to find out why.

If you truly have enough DMI to pay back 100%, then you get the bankruptcy court's protection and freeze your balances. If your DMI is not enough for that, make sure you gather a true & accurate list of your actual expenses and discuss with your attorney. He may be basing the 100% estimate on having too little information about your case.