Declaring Bankruptcy

From the beaches of California to the Eastern Seaboard, an ill wind of economic malfeasance and short sighted purchasing habits has led virtually every American consumer to contemplate declaring bankruptcy as a method of lowering bills, eliminating credit burdens otherwise immobile, and even keeping the family abode from foreclosure proceedings. However, though the legislative revisions were largely dismissed by the national media, 2005’s modifications of the United States Bankruptcy Code (forced through Congress as the Bankruptcy Abuse Prevention and Consumer Protection Act) has utterly rewritten the aid and availability of bankruptcy declaration for average households. Currently, the most desperate consumers should be the only ones to feel confident about declaring Chapter 7 debt relief should they want to discharge their relevant unsecured debts, and even the poorest household should anticipate the seizure of their possessions from agents of the bankruptcy court upon filing the ever more intricate declaration.

Declaring bankruptcy once meant little more than consumers’ efforts to sufficiently prove to the court appointed trustee an absence of fraudulent intent and the utter hopelessness of satisfying lenders as things stood. Now, after the thoroughly political maneuverings of BAPCPA, the legitimacy of borrowers anxious to declare Chapter 7 bankruptcy shall be solely evaluated upon a brief snippet of previous salary levels set against the median for their state of residence. When declaring Chapter 13 bankruptcy, court trustees are also now forced to ignore a family’s genuine expenses when analyzing the documents supporting the borrowers’ claims for declaring bankruptcy assistance and employ guesswork calculated by the Internal Revenue Service (as averaged, again, for an entire state). This new aspect of the US Bankruptcy Code could force households struggling with aberrant costs of living to drastically change their plans or even relocate to maintain the payments mandated by declaring Chapter 13 bankruptcy protection.

Average consumers worrying about their credit card bills would probably want to avoid declaring bankruptcy altogether if they believe that their case would likely be sent over to the Chapter 13 program, but, of course, most borrowers’ financial predicaments aren’t so cut and dry. As a matter of fact, debtors seriously concerned about their overwhelming unsecured debt accounts should not only examine bankruptcy as carefully as amateur financiers are able to comprehend the government texts, they should also check out the exciting new debt solutions which have essentially replaced declaring bankruptcy for a new generation of Americans. Growing numbers of our countrymen, once they hear tell of horror stories from family and co workers who went ahead with declaring bankruptcy despite significant warning signs, have started to talk with representatives of debt settlement negotiation companies to great success.

Debt negotiation convinces unsecured lenders to settle existing credit card balances for pennies on the dollar, barely touches FICO scores or credit reports – particularly when compared to the irrevocable damage done by declaring either Chapter 7 or Chapter 13 bankruptcy protection – and the program’s cost to borrowers should reflect a small percentage of the administrative charges and attorney fees that declaring bankruptcy protection in the modern world typically dictate. As currently offered by the twenty first century American government, bankruptcy declarations have very little to do with the long standing shield which enabled Henry Ford, Abraham Lincoln, and countless of our most visionary citizens to weather the worst economic patches. May seem odd that declaring bankruptcy (or creating a reasonable illusion of such desires) would be most effective as a threat to the creditors, but any debt management program which may get families through this current storm should be applauded.

The decision to reach out for help with your debt is not one that's easy to make. You were raised to "do the right thing", but now it’s nearly unbearable. You struggle along while your creditors are turning up the heat. And now you’re at the point where the late fees, penalties and interest expense make it impossible to keep your head above water.

Ask yourself this. If you could eliminate your debt without permanently damaging your credit, why wouldn't you?

Avoid Bankruptcy

Debt Relief

Bankruptcy is not your only option! Our goal is to help you determine the right course of action for you to take. We will connect you with a debt settlement company today that will help you avoid filing for bankruptcy protection.

Are your finances spiraling out of control? Get the information you need today to stop harassing creditor’s phone calls. Total Debt Relief provides a matching service to connect you with pre-screened Debt Settlement Professionals. These debt management pros will educate you on all of the options available to you to get out of debt. Total Debt Relief helps you make the most informed decision possible so that you can get your financial life back on track.