Reasons To Consolidate

Stop Collection Calls
Lower Monthly Bills
Free Credit Counselors
Repair Your Credit
Get Out of Debt For Good
Foreclosure Facts
Loan Modification
Debt Elimination
Debt Settlement
Debt Negotiation
Personal Debt Freedom
Debt Management Plans
Debt Consolidation Guide
5 Steps To Debt Relief
Types of Debt Relief
Tips To Reduce Debt
Understanding Tax Debt
Payday Loan Relief
Debt Negotiation Letter
Debt Verification Letter
Credit Card Help
Credit Card Rules Changes
Store Credit Cards
Fix Credit Card Debt
Debt Consolidation Loans
How Debt Consolidation Affects Credit
Free Bill Consolidation?
Reduce Your Debt
The Debt Snowball
Financial Planners
Medical Debt Guide
Seniors in Debt
How to Keep Your Job
What if You Don't Pay Bills
Wage Garnishment
Mortgage Hardship Letter
Get Out of Debt
Bad Credit Personal Loan
Life After Bankruptcy


Types of Bankruptcy

There are 6 different types of bankruptcy, however, only 2 are common, Chapter 7 and 13. Chapter 7 bankruptcy is the most severe type where a debtor gives up all of his or her non-exempt property. The proceeds are spread to the unsecured creditors (such as credit card companies). In exchange, the debtor can be free of some of the debt. Child support, student loans, and some taxes can not be rid of in a Chapter 7 bankruptcy. Chapter 7 is now only available once every 8 years.

Chapter 13 Bankruptcy

In a chapter 13 bankruptcy, the debtor keeps ownership of all his or her assets. In exchange, the debtor will provide some of his or her future income over the next 3 to 5 years. The amounts of the payments vary by how much the individual is in debt.

Alternatives to Bankruptcy

It is highly recommended that you first try everything that you can to keep from claiming bankruptcy. A bankruptcy will stay on your credit reports for 7 years. Many employers require a credit check and will not hire individuals with a bankruptcy on thier report.

Before filing for bankruptcy, we suggest trying debt settlement or debt consolidation first. To learn more about this option fill out the form at the top of the page or call 888-314-1403. Another option could be a short term Cash Advance loan to get you to your next payday. Lastly, if you have medium to good credit now, you could get a Personal Loan. The interest rates will be high, but it could save you thousands if you have to pay high interest rates for the next 7 years.

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