Filing for bankruptcy and credit collectors The credit collectors will employ everything within their powers to collect the debt you have to pay them. They may even employ underhand methods and may watch your activities. The collectors will be paid when you pay your debt. Once filing of bankruptcy is done then the credit collectors cannot pester you to repay your debt. If they continue their harassment they are liable to be sued. The new debt collection laws will apply for you and it will protect you from these harassers. The creditors cannot sue you or take any other legal action if you file for a bankruptcy. If your bankruptcy is accepted, then your debt account will be declared null and void and the creditors have nothing to collect from you. But there are a lot of fine points you need to consider about while filing for bankruptcy. For the fact, only a professional business recovery services firm can save you from the troubled issues related with filing for bankruptcy.