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Bankruptcy
Solution
Bankruptcy: Is It the Right Solution to Your Debt
Problems?
There are two types of bankruptcy available to
most people. If you file Chapter 13 , you may
keep a mortgaged house or car. Rather than surrender
property, you may pay off your debts over three
to five years.
Filing bankruptcy under Chapter 7 requires you
to surrender all assets that are not exempt in
your state. Exempt property may include items
such as basic household furnishings and work-related
tools.
Both types of bankruptcy may get rid of debts
where creditors have no specific rights to property
and stop foreclosures, repossessions, garnishments,
utility shut-offs, and debt collection activities.
Bankruptcy usually does not wipe out child support,
alimony, fines, taxes, and some student loan obligations.
What is not mentioned about bankruptcy
* Bankruptcy will stay on your credit report for
at least 7-10 years.
* Even after that period you might have additional
difficulty obtaining a loan to buy a car or home.
Is there any way to pay off your debt without
filing for BANKRUPTCY?
You really do want to avoid bankruptcy unless
you want to spend the next decade having a very
hard time buying a car or applying for any type
of loan. We offer the alternative to that: debt
management plan (DMP) which can not only save
you from bankruptcy but can eliminate your unsecured
debt in far less time than a debt consolidation
loan at huge savings.
Please fill out the Christian debt information request form on the right to request more information about our Christian debt programs.
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