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"I cannot begin to express my gratitude for saving me several court appearances, garnished wages, and about $30,000."
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You handled this debt in a fast and cheap way after years of bill collectors trying to make us feel guilty of something we didn't create.
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Business bankruptcy


Bankruptcy is only recommended if owe excessively and realistically cannot repay any money to creditors. By filing bankruptcy, you are declaring your inability or impairment to pay creditors in exchange for relief from paying most, or a portion of your debt. On the flipside, However, before deciding to pursue this route, you should analyze the following bankruptcy PROS and CONS:

Chapter 7 BANKRUPTCY: A Chapter 7 is the most common credit card bankruptcy filed by consumers. It allows a personal or business bankruptcy filer to discharge most debts, except spousal support, child support, student loans, and taxes. However, non-exempt property must be surrendered to a bankruptcy trustee to be liquidated and have the proceeds distributed to unsecured creditors. Exempt property, such as a home, used car, or household goods is normally excluded. You can only file for Chapter 7 once every eight years.

Chapter 13 BANKRUPTCY: Also referred to as the "wage earners plan", this procedure allows individuals to retain ownership and possession of their assets. However, a portion of the filer's future income must be dedicated to repay creditors within 3 to 5 years. The value of a person's property and amount of income and expenses will determine the amount of the debt repayment debt and the repayment plan period.

Chapter 11 BANKRUPTCY: This bankruptcy is done by businesses and corporations. Under the procedure, the bankruptcy court classifies the bankruptcy filer as a debtor in possession ("DIP"). As a result, the business retains ownership and control of its business assets. The business owner daily business operations continue as the business owner and creditors follow a court-approved debt repayment plan.

• Stops all collection activity, including collection calls, foreclosures, repossessions, and wage garnishments. • Student loans and back taxes (within 3 years), alimony and/or child support cannot be discharged.
• Most states allow home, car, and other personal property exemptions. • Filer must surrender, credit cards, home (in some states if equity exceeds $100,000), and owned personal property that is not exempt from sale by the bankruptcy trustee, like luxury possessions.
Filer may be able to obtain new lines of credit within two or more years of filing bankruptcy. Filer will lose all credit cards and may take many years to get unsecured credit card privileges.
Chapter 7 does discharges most debts. Due to failing the means because of a high amount of disposable income, the bankruptcy court could convert a Chapter 7 case to a Chapter 13, requiring debt repayment in 3-5 years.
  • Stays on credit report for 10 years hurting chances to get credit, life insurance, employment, purchase a home or car, or lease an apartment.
  Bankruptcy filer's name appears in court records for 20 years and may appear in the newspaper.


  • Under the bankruptcy law, Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 ("BAPCPA"), a Chapter 7 bankruptcy filer is required to pass a complex means test. If unable to show the bankruptcy court the inability to back at least a portion of the debt, the person will fail the means test.
  • Chapter 13 bankruptcy filers are obligated to repay 30-50% their total debt under a court-ordered debt repayment plan of 3-5 years. If missing a court-ordered payment, the bankruptcy case can be dismissed by the court.
  • A bankruptcy filer must undertake consumer credit counseling with an approved consumer credit counseling agency prior to filing a bankruptcy petition. Additionally, the person must undertake personal financial management education from an approved consumer credit counseling agency before the bankruptcy court can grant a discharge of the debt under a Chapter 7 or Chapter 13 bankruptcy.
Learn why the Debt-to-Freedom Plan is a great bankruptcy alternative. Call today, 1-800-213-9968 or complete online form below:

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