Quickly Beat Creditors without Bankruptcy

Bankruptcy is often a last resort for people with substantial unsecured credit card debt, but many jump too soon! There is a better way that will allow you to avoid bankruptcy altogether, or put you in a place where bankruptcy becomes beneficial. By preparing you, your assets, and your finances to utilize bankruptcy you will not be caught off guard by it. There are 2 common forms of Bankruptcy, Chapter 7 and Chapter 13. Chapter 7 can be difficult, almost impossible, to qualify for due to the recent government debt settlement order legislation enacted in October 2005. Chapter 7 effectively wipes away unsecured credit card debt but not until analyzing your assets and potentially forcing sale in order to repay unsecured and secured creditors. If you have assets you want to keep, you better look at another strategy! Either way, with the difficulty in filing now, most are completely rejected and unable to file. The other option is Chapter 13 Bankruptcy. The key to note here is ultimate loss of control. You are choosing to allow a bankruptcy court to decide what is best for you, regardless of your opinion. You are a much better judge of what is best for you and your family than any government body will ever be. You as an individual should retain the power to choose and to be responsible for your choices. A court appointed trustee would take payments from your future income typically over 3 to 5 years. You will also have liens placed on your assets to secure your “new” obligation or forced consolidation, thus losing additional control of any clean assets you may have had. Your new payments must be made regardless of personal circumstance, sickness, challenge, etc. This has little to no advantage over other methods AND you have the addition of a bankruptcy on your credit file. Ultimately, bankruptcy is basically a government debt settlement order and has its place but one must fully understand the implications of it (and how to maximize its effectiveness while minimizing the damage it brings) in order to continue productively into the future. The Plan B solutions will incorporate this understanding while helping you avoid bankruptcy altogether. If bankruptcy is chosen, after specific preparation, it can be used in the best possible way. You will also have solutions for negotiating deficiencies on secured debts. Plan B can truly help in all areas of debt. Costs: Bankruptcy Depending on the bankruptcy, you can still owe anywhere from 10% to 100% of your debts. You will likely lose control of your assets, substantially damage your credit for up to 10 years, may lose control of your income through garnishment. All of this does not account for attorney fees…

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