 
|
There Is No Cure-all for Debt ProblemsIf you are in overwhelming debt, the fact is there is no quick fix. However, compared to bankruptcy, our service works faster and does not have the lingering negative effects. Bankruptcy does not address all your debt problems, but our debt relief service can manage a debt settlement at a savings to you. Our debt relief service can provide reduce your total credit card debt balance. Bankruptcy also offers a chance to reduce you debts, but it requires navigating through an unwieldy federal court process. You can pay your debt balance faster through our debt relief service – often in 12 to 36 months. Some of your debts can’t be erased through bankruptcy. Under bankruptcy, your assets are sold to pay creditors, commonly known as Chapter 7 liquidation, or you can repay your debt in three to five years through normal income (Chapter 13), but some debts remain. For instance, you can’t get rid of child support debts under bankruptcy. We certainly feel that it is important to support your child. Our debt relief solution can help you get over your debt problems so you can meet your financial duty as a parent. Bankruptcy also cannot wipe away alimony debts. Alimony and child support debts must be paid in full even if you complete bankruptcy. In addition, most tax debts aren’t eliminated under bankruptcy. The federal government is intent on getting their money from you. Student loans are also hard to eliminate through bankruptcy. You have to prove a hardship to get away from student loan debt in a bankruptcy case. The hardship standard is difficult to meet. Child support recipients and taxing authorities are paid first under the bankruptcy law. Once you finish bankruptcy, it remains on your credit history for 10 years or more. You will be subject to higher interest rates and turned down for many financial options. The laws and legal loopholes of debt relief can be dizzying. Bankruptcy laws changed two years ago, making it more difficult to settle your debts through the process. Potential filers face income means tests and credit counseling to become eligible. Author bio: Brian Williams, a graduate of the University of Texas at Arlington, has 11 years’ experience writing and editing at daily newspapers in Texas. Having worked his way through college and experiencing the transition to professional life, Brian understands how credit affects people’s lives. For more articles by Brian about filing for bankruptcy. Credit Solutions is your alternative to debt consolidation.
|
 |
|||
