Individual Voluntary Arrangement As Bankruptcy Alternative

Individual voluntary arrangement is used as a bankruptcy alternative in many countries all over the world, including the United States of America. This provision is also commonly referred to as IVA. As per the US bankruptcy laws, a debtor may be allowed to re-arrange the repayment schedule with their creditors. The new arrangement must be done in a way that should clear away the debts within a maximum period of five years. ...Read more>>

Where To Get Useful Bankruptcy Alternatives Information?

Though this blog itself can be a good resource for you when it comes to finding bankruptcy alternatives information, if you are looking for information customized to your specific case, you are strongly recommended to work with an expert credit counselor and/or with an experienced bankruptcy attorney. These are the two best people who you can contact for some useful information on how you can avoid bankruptcy. They will review your debt and financial situation thoroughly and then will provide you some practical suggestions accordingly. It is very important for you to keep in mind that bankruptcy does provide protection to debtors in extreme cases, but it must always be used only as a last option. ...Read more>>

Bankruptcy Alternative Options That Are Not Likely To Fail

If you spend some time and ponder over it, you will surprise yourself by finding out an array of bankruptcy alternative options that can help you regain control of your debt and financial situation without requiring you to become bankrupt. What usually happens is that people become too frustrated with their mounting debt problems to think of any better solution. They lose all their hopes and start looking out for an easy solution because they think they are no more able to handle the stress. This is how people often end up filing for bankruptcy protection even in cases where they could have saved their financial life by using better alternatives. Following are some of the options that you are strongly recommended to work on before you file your petition. ...Read more>>

What Are The Best Alternatives To Bankruptcy?

If you are looking out for the best alternatives to bankruptcy, you will be glad to know that there are a plethora of options available to you. Now, you must be wondering if that is true why you cannot see them. The answer is that you are probably looking at the wrong side. These options are available to those who know where to look out for. The following information should help you with that. ...Read more>>

Tips To Avoid Declaring Bankruptcy

No matter how frustrated you are, there are often several ways out there that can help you avoid declaring bankruptcy. When you struggle badly with your debt problems and are very much stressed because of it, it is very much likely to think of bankruptcy as an easy solution. It is very important for you to understand that the legal provision of bankruptcy protection is definitely available out there, but such an option should be used only as a last resort when all other alternatives fail. Have you already tries your alternatives? If not, this is not the right time to file your bankruptcy petition. Have some patience. Take your time to find out those possible alternatives that may just help you get out of your debts without getting bankrupt. The following information will help. ...Read more>>

Achieve A Debt Free Life Without Filing Bankruptcy

Just because your debt situations sounds to be overwhelming one, it does not mean that bankruptcy is the only option available out there. There can be several better alternatives, which you can use to achieve a debt free life without filing bankruptcy. Everyone in the United States of America is following the “American Dream”, which is to achieve a financial life where everyone has a home, a car, and everything that is necessary for a luxurious life. Some people are following this dream blindly without any proper financial planning. The end result is that almost every American citizen is now in debt. Thousands of them are on the verge of bankruptcy. Many predatory lending programs, such as payday loans, have made things worse. Following is a brief rundown on four bankruptcy alternatives that can help you deal with your debt problems quite effectively. ...Read more>>

Alternatives To Business Bankruptcy

There can be several alternatives to business bankruptcy. As per the federal laws applicable in the United States of America, all business whether small or large are allowed to use bankruptcy as a legal remedy to get rid of their debt problems. But it is very important to note that bankruptcy might be a legal option available out there but it is not at all the best way. When a business goes bankrupt either under chapter 7 or chapter 13, they have to face severe consequences in future. The financial recovery process is a very difficult one once a business goes bankrupt. That is the reason why it is always advised to be very careful before choosing to go for this option. Go for it only if the situation is genuinely beyond your control and there is no better alternative to deal with your debt problems. ...Read more>>

Is It Possible To Achieve A Debt Free Life Without Filing Bankruptcy?

In most cases, there are always several better alternatives available, but if your situation is an extreme one, bankruptcy might be your only available option to get rid of your debt problems. Still, if you follow the right approach, do some planning in advance, stick to your plan with great financial discipline, and be consistent in your efforts, it is very much possible to achieve a debt free life without filing bankruptcy. The American dream is no doubt beautiful – a society, where everyone has a car, a home, and all the luxuries that people want. But, this dream costs money. Those who cannot buy this dream in cash (and majority of the people just do not have enough cash), they take loan to fulfill this dream. The dream is beautiful but the debt that it requires you to acquire sometimes takes a very horrible turn. ...Read more>>

10 Things You Can Do To Avoid Bankruptcy

If you are struggling with your debt problems and considering filing for bankruptcy as a last resort, you must sit back, take a deep breathe, and rethink your decision with a calm mind before you proceed and file your petition. There are plenty of things you can do to avoid bankruptcy. When you go bankrupt, your credit score comes down to the lowest level, which makes your financial life very difficult. ...Read more>>


Bankruptcy refers to a situation when you are not in a position to make the repayment of your bills due to which the court steps in to discharge your debts either by restructuring of debts or by liquidating your assets and properties. ...Read more>>

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Payday Loan Debts and Debt Consolidation
Debt has been a constant companion for middle class people who earn just to live hand to mouth and devoid of any saving for rainy days. We have been trapped in this modern age by various financial constrains wh... Read more

What are the pros and cons of debt consolidation?