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Bankruptcy Alternative

Can I File Bankruptcy?

There are 2 common types of bankruptcy, chapter 7 and chapter 11. The new bankruptcy laws (actually almost 2 years old now) make the common practice of filing chapter 7 bankruptcy much more difficult. Prior to the new laws, for most people who asked “Can I file bankruptcy?”, the answer was a resounding “yes, no more »

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Should I File Bankruptcy vs. Using a Bankruptcy Alternative?

As discussed, filing bankruptcy is no longer as simple as it once was. However, to some people in very bad financial situations, it often is the only option after exhausting all other bankruptcy alternatives. “So When Should I File Bankruptcy?” Honestly, every situation has to be evaluated on its own terms but in general, if more »

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What’s the Effect of the New Bankruptcy Laws?

The bankruptcy laws were changed in 2005 in an effort to curtail the number of people who file for bankruptcy as a way to release themselves from the responsibility of their debt. Many people and apparently the government as well thought that it was too easy to file for bankruptcy. As a result, the process more »

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What Are the Benefits of Debt Settlement vs. Bankruptcy?

When weighing the choice of debt settlement vs. bankrutcy, you need to consider the law. Debt settlement has become even more attractive as an alternative to bankruptcy due to the new bankruptcy laws which make it much harder to file and wipe out your debts. The process used to be much quicker and simpler leading more »

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How Do I Avoid Filing Bankruptcy?

Bankruptcy is really a last resort. You want to avoid filing bankruptcy as much as possible especially now that the new bankruptcy laws have made it so much harder to file and wipe your debt slate clean quickly. The debt settlement option as discussed here is the bankruptcy alternative that most people with lots of more »

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