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Alternatives to Bankruptcy

If you are currently struggling with debt, then know that there are other ways that you can resolve these issues without resorting to bankruptcy. Filing for bankruptcy is a serious decision to make and it makes sense to explore other alternatives. Here are some other options to handle your debt instead of filing bankruptcy.

Settle Your Debts

Negotiate with creditors and see if you can sell off assets to pay creditors, or look for other sources of income that can help you pay off your debts. Creditors may be very open to the idea of negotiating with you to settle debts, rather than see you going into bankruptcy.

Anti-Harassment Laws

If you’re currently struggling with harassment from debt collectors, there are laws that can protect you from such harassment. We can discuss your scenario to see how you can put a stop to such harassment without having to file for bankruptcy.

Credit Counseling

If you aren’t comfortable negotiating with creditors yourself, and are not confident about your negotiating abilities, seek help from a credit counseling agency. These agencies can help you work with creditors to repay your debts.

Now, none of these alternatives to bankruptcy are easy, but if they are options to help you avoid bankruptcy, then these are options that must be explored. To understand whether these options can help in the long term and whether they are the solution to your financial problems, lets talk.

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