ALTERNATIVES TO BANKRUPTCY
Ask your lawyer about the alternatives to seeking relief under the bankruptcy laws. One option is to contact your creditors to request a discount or additional time to pay. Another way is to seek the help of a credit counseling service. These organizations, whether public or private, can help you manage your bills and work out an arrangement with your creditors. A third choice is to borrow money to pay off your debts, replacing them with a single loan and one monthly payment. Such refinancing can make sense if the repayment period is extended at a lower interest rate.
Each of these alternatives has benefits and disadvantages that your lawyer can explain. Or, you may find that bankruptcy is your best option.
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The information you obtain at this site is not, nor is it intended to be, legal advice. You should consult an attorney for individual advice regarding your own situation.
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by Velasco Law Office. All rights reserved. You may reproduce materials available at this site for your own personal use and for non-commercial distribution. All copies must include this copyright statement.
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