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How Do I Avoid Filing Bankruptcy?

Bankruptcy is really a last resort. You want to avoid filing bankruptcy as much as possible especially now that the new bankruptcy laws have made it so much harder to file and wipe your debt slate clean quickly.

The debt settlement option as discussed here is the bankruptcy alternative that most people with lots of unsecured debt use. To qualify you must:

  1. Have unsecured debts (explained here)
  2. Have some income to make the reduced debt payments
  3. Have at least $10,000 in unsecured debts

With debt settlement you are able to drastically reduce the amount you owe without having to go through most of the new legal hurdles of bankruptcy. They decrease your monthly payments and typically have you out of debt within 3 years.

Of course, debt settlement can have its drawbacks but if you are facing bankruptcy and meet the above criteria, it often is a much better option for many people.

Find out for yourself, call one of my suggested Debt Settlement Companies for a free consultation. Get all your questions answered and then you decide if their debt settlement program is right for you as a bankruptcy alternative.