I’m often asked, “Is debt settlement a better choice than bankruptcy?”
That’s a good question.
Bankruptcy may allow you to eliminate most of your debts quickly, and this is typically referred to as a Chapter 7 bankruptcy.
In other cases, you may be required to pay back a percentage of your debts over time. This is typically referred to as a Chapter 13 bankruptcy.
Bankruptcy also offers legal protection under the court so that you don’t have to worry about being sued or harassed by creditors while completing the bankruptcy process.
While most reputable debt settlement firms will work to drastically and effectively minimize creditor’s calls, debt settlement does not provide the guaranteed legal protection that bankruptcy does.
However, chapter 7 bankruptcy is not an option for everyone, and it has gone through some changes since the bankruptcy reforms of 2005. It has become more difficult to qualify for full liquidation or in others words, full forgiveness of your unsecured debts. Chapter 13 bankruptcies typically require five years of court ordered payments to a trustee and may require you to surrender some of your assets.
Knowing all of your options will help you make a more informed decision, and speaking to a bankruptcy attorney may be a worthwhile decision. Most reputable debt settlement firms can refer you to a trusted bankruptcy attorney in case you have detailed questions or if they determine that you might be better served by speaking to them.
Typically, if you are in such a financial state of hardship that it is determined you can’t even make your minimum payments into a debt settlement program, then speaking with a bankruptcy attorney is highly recommended.
Subscribe to the Debt Relief Guide Online to learn more about debt settlement and bankruptcy. Plus, you’ll receive a free legal evaluation from a bankruptcy attorney in your state ($200 value) to determine if you qualify as well as a free savings quote from a fully accredited and professional debt settlement law firm upon your request.
Make it easy on yourself to make your best choice because dealing with debt is hard enough as it is…
Here To Be An Asset To You,
Jesse Niesen
DebtGoToGuy.com
Debt Settlement (OVER $40k)(Complimentary Consultation & Quotes *with Jesse)
** Must have $40,000+ in Credit Card or Unsecured Debt to apply to this exclusive “Sword & Shield” Forensic Mitigation and Debt Restructuring Program. Top debt settlement results provided by A+ BBB Rated, Accredited, FTC Compliant Law Firm in business since 1999 with a national network of attorney’s legally settling debt at a 38-40% average with zero complaints to the Better Business Bureau. Attorneys (or anyone else) cannot guarantee outcomes and results may vary, but these pros are the very best in the business, and I pass along reduced fees to my personal clients.
Debt Settlement (UNDER $40k) (Free Consultation from Affiliate Law Firm)
** Must have $10k+ in Credit Card or Unsecured Debt – “A” Rating & Accredited with BBB, in business since 2003 with transparency and accountability through the largest online debt relief community.
NOTE: This consultation is NOT with Jesse, but will be with a debt counselor who’s held accountable.
Fair Debt Collection Representation (Complimentary Evaluation *with Jesse)
** Collectors calling? Feel like your rights are being violated?
Discover how FDCPA Representation from creditor-butt-kickin attorneys can help you get into a stronger and more profitable position quickly. When a third party collections agency fails to obey the law, they may be liable TO YOU for damages of $1,000 PER VIOLATION. My attorneys will protect your rights from scavenger debt collectors and bring illegal collection tactics to justice.
Bankruptcy (Complimentary Case Evaluation *with Jesse)
Attorney’s can be cold & scary. I’ll be the warm & real human that bridges the gap.
DON’T BE AFRAID OF BANKRUPTCY. Each and every case is unique. Don’t assume that bankruptcy can’t help you.
I will submit your case to a local bankruptcy attorney at no charge to you.
