Debt Settlement vs Bankruptcy

Debt Settlement vs Bankruptcy

Bankruptcy Options

Debt Settlement vs Bankruptcy - Chapter 7- You will have to meet specific income requirements in order to qualify for Chapter 7 bankruptcy status which actually clears most of your debts. If your income is more than your states annual median you will be sent into a Chapter 13 status which will restructure your debt but not remove it.

Living Standards- The IRS will determine monthly spending for food, clothing, personal care, and also transportation under the new law. Any remaining monies would be considered funds to use to pay down your debts.

Mandatory Credit Counseling - Credit Counseling must be completed at least 6 months before filing bankruptcy and no bankruptcy will be discharged until you finish a financial management course.

Fraud - If you charge more than $500 which the court decides are luxuries on 1 charge card within the first 90 days of filing bankruptcy be prepared to foot the entire bill under the new law. The same goes for cash advances up to $750 within 70 days of filing.

Debt Settlement vs Bankruptcy

Bankruptcy 7 - 11 - 13
Bankruptcy Chapter 7 vs Chapter 13
New Bankruptcy Bill

Chapter 7 Bankruptcy
Chapter 11 Bankruptcy
Chapter 13 Bankruptcy

Advantages of Factoring
Auto Bad Credit Loans
Bad Credit Loans
Business Credit Repair
Credit Counseling
Credit Counseling Agencies
Credit Profiles

Credit Report Repair
Business Credit Repair
Creative Business Financing
Debt Management Defined
Debt Negotiation
Debt Solutions
Debt vs Equity

Debt Settlement Options

Debt Solutions - Comparing what they owe to what they make, many American families feel a permanent debt solution is out of their reach. But finding a debt solution that is right for you is not just a matter of your income minus your bills. There are many ways to lower your interest rates, consolidate your payments, and work with your creditors to custom tailor a debt solution for your specific needs. Proper debt management begins with getting debt help. Find the help you need in order to receive the attention of a debt solution specialist. Once you review your options, a debt solution expert will analyze your situation and contact you to discuss which debt solution would work best for you.

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