[phphphphp]

Depends on the type of bankruptcy and in what jurisdiction. Even in the US with very creditor-favourable bankruptcy laws, you can’t just declare bankruptcy to get out of financial obligations: owing a bunch of people money is not the basis for bankruptcy. Yes, if bankruptcy is approved, wage garnishing will stop, but it can resume depending on the type! Bankruptcy is not a get out of debt free card, it’s the last stop after ruin.

[Maursault]

Before ruin, you mean. It prevents ruin, defranchising and homelessness. The worst thing about it is what it does to your credit rating. That's not unbearable.