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You Do Not Have To Lose Control To Relieve Your DebtBankruptcy means losing financial control. A bankruptcy court can dictate how you can spend your money. Additionally, the court can seize your property to liquidate. Our debt relief program settles your debts – saving you money in the process – while allowing you to remain in control of your finances. Through our debt relief service, we work out a reduced credit card debt balance with your creditors. You save thousands on your total debt balance and be debt-free in 12 to 36 months. Our debt relief service requires you to open a savings account to use to pay off your debts, but you control it and you benefit from any interest it accrues. You can pay your debts two ways through bankruptcy: under Chapter 7, you sell your assets to pay for some or all of your debts; under Chapter 13, you file a repayment plan based on your income. Chapter 7 typically takes less than a year to resolve debt while Chapter 13 takes three to five years. Laws changed in 2005 making it harder and more expensive to erase your debt through bankruptcy. Our debt relief service can have you debt free in three years or less while incurring less risk than bankruptcy. Filing for bankruptcy means your personal financial information is available for all to see. Bankruptcy filings are public record and include details about your income, creditors, property and debts. This information can easily be used against you, but our service is completely confidential. Plus, while a bankruptcy remains in your credit history 10 years or more, our debt relief service works to restore your credit quickly. Chapter 7 bankruptcy allows your assets to be sold to settle your debts. This means you could lose your home or vehicle. Basically, your property and your debts are controlled by the bankruptcy court. Your only advocate is an attorney. Due to the recent wholesale changes in bankruptcy law, attorney fees for such a matter are more expensive. The bankruptcy trustee oversees the bankruptcy filer. His or her goal is to make sure your creditors are paid. Other expenses of bankruptcy are filing fees, which can cost over $300. Chapter 13 allows for a repayment period of three to five years. During that time, you may be severely restricted on what you can spend your money on – sometimes needing permission from the court before you spend. 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, go to http://www.creditsolutions.com. Credit Solutions is your alternative to debt consolidation.
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