Are There Alternatives to Going Bankrupt?

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Are There Alternatives to Going Bankrupt? Empty Are There Alternatives to Going Bankrupt?

Post  Admin on Mon Sep 21, 2009 11:27 am

Yes. Most are nonprofit services offering free advice on how to get out of debt and how to use credit wisely. There is no charge to have a counselor review your financial situation and help analyze your problem. If the service handles your payments to creditors under a debt-management plan, a small monthly contribution may be requested. This fee would be waived if the counselor finds it is not possible because of a very tight program. Note that if you do not have enough money to make even partial payments to your creditors, then most counseling services will be unable to help you and may refer you to bankruptcy.


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