What Bankruptcy Can Do For You (and What It Can’t Do)
While bankruptcy is sometimes the ideal solution for individuals who have buried themselves under excessive debt, it isnt the answer to all debt problems. Unfortunately, not all debts can be completely erased by a bankruptcy- and in some cases, the debts cannot even be reduced or placed in a repayment plan under a Chapter 13 or through a debt management program designed by credit counselors to get consumers into a better financial position.
If youre struggling with excessive debt from student loans, child support or alimony- you probably are going to be disappointed to find that bankruptcy isnt going to be your financial savior. You cannot wipe out debts that are from not paying child support payments, alimony payments or for student loans. In fact, most secured loans are unable to be erased with a bankruptcy as well. If these are the types of debts you are struggling with, you may want to consider other alternatives to bankruptcy.
Debts That Can Be Wiped Out with Bankruptcy
Bankruptcy is excellent for wiping out credit card debt, on the other hand! With the exception of a few secured...
To view and download this full PLR article, you must be logged in. Registration is completely free. Once you create your account, you will be able to browse, search & downlod from our PLR articles database of over "1,57,897+" on 1,000's of niches and 200+ categories without paying a penny. Click here to signup...
