This is a last resort option you should never rush into, despite the immediate relief it can provide. Bankruptcy can follow you your whole life. “Have you ever filed for bankruptcy?” now appears not only on loan applications, but also on job, school and professional licensing applications. Bankruptcy is always an option for anyone, and can be entered into at any time, no matter the status of your debts. ConsolidatesDebt.com's debt settlement program is specifically designed to help people avoid bankruptcy.

Bankruptcy ConsolidatesDebt.com's program Depending upon the type of bankruptcy you qualify for, you may be freed from all debts immediately. Another type of bankruptcy allows you to pay a portion of your debt over 4 years.

New credit becomes very difficult to obtain or is offered only at excessive interest rates.

You can loose your home, your car, and other assets depending on your situation.

Your credit is not only blemished, but your ability to borrow again is severely hampered for up to 10 years.

The implications of bankruptcy can follow you the rest of your life.

By the end of the program, credit blemishes are largely counterbalanced by your outstanding debt being reduced to zero.

Upon completion, credit is usually obtainable at a variety of rates that improve with time and a positive payment history.

ConsolidatesDebt.com doesn’t require you use your equity in your home, your car or other assets.

The goal of ConsolidatesDebt.com's program is to provide you with a debt-free, fresh start within 2-3 years.
Bankruptcy is an alternative that will encumber your financial opportunities for a long time to come. It may be unavoidable in cases where an individual doesn’t earn enough to pay even a portion of their debt or simply has no income.

Type of Bankruptcy
Chapter 7 – Liquidation
Chapter 7 is the most common form of bankruptcy where all or most of your debts are discharged and your assets forfeited if they were used to secure a debt. Property exemptions vary by state, but most states allow you to keep personal belonging up to a certain value, such as household goods. Any real property used to secure a debt is usually forfeited unless you can maintain full payment on them.

Not all debts are discharged in Chapter 7 including child support, alimony, and fines associated with negligent or criminal behavior and unsecured debt incurred within 40 days of filing. Student loans are not usually forgiven unless you meet very strict hardship guidelines. If your bankruptcy goes uncontested, your debts may be discharged in 3-6 months from filing. Creditors can, however, contest bankruptcy proceedings on the basis of fraud, breach of trust, etc. This often occurs when a debtor signs up for new credit (12-24 months prior to filing) and runs up their bills. Chapter 7 can provide immediate payment relief--it halts any kind of collection efforts from creditors, including wage garnishments, utility cut-offs, foreclosures, etc. Because Chapter 7 remains available to you no matter what stage your debts are in, we believe that it is something you should never rush into. Bankruptcy of this nature can carry deep psychological problems and it stays on your credit report for the next 7 years. It severely limits your ability to borrow in the future.

Chapter 13 — The re-payment plan
If you have stable and regular income and your debts fall within federal guidelines, a Chapter 13 bankruptcy may allow you to keep assets such as your home or car while you enter a repayment plan. Filing for Chapter 13 will halt any foreclosure proceedings and collections efforts allowing you time catch up on payments. The bankruptcy court will determine a reasonable monthly debt payment amount based on its evaluation of your household budget. Repayment plans typically take 3-5 years to complete and the bankruptcy stays on your credit for 7 years.

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Two out of every three people filing for bankruptcy have lost a job. Half of them have had a serious medical problem.

The typical family filing for bankruptcy holds one and a half times its annual income in high interest debt.

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Simply put, ConsolidatesDebt.com's program is bankruptcy prevention. Let us renew your future.
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Most people have never heard of debt settlement, yet most debt industry professionals know that it is the most effective bankruptcy alternative on the market. See how it compares. . .