After Finding Their Payments Have Doubled, Consumers are Now Learning How to Legally Eliminate Debt

The new bankruptcy laws have doubled the minimum monthly payment on major credit cards. Many Americans are resolving the extra strain on their wallets by learning how to legally eliminate 100% of their debt without bankruptcy, consolidation, or refinancing.

Hoschton, GA (PRWEB) March 19, 2006 -- Thanks to the new bankruptcy reform, many Americans who were contemplating bankruptcy, are now feeling the effects of the reform. The new laws require the banks to double, or even triple, the minimum payments consumers must pay each month. Putting an even greater burden on people who can barely afford to pay the current smaller minimum.

With this reform, many who are overburdened by their credit card debt will no longer qualify for Chapter 7 bankruptcy protection. So consumers are now turning to a program where they can legally walk away from 100% of that debt, without bankruptcy, consolidation, or refinancing. They are also ending up with a better credit score too.

The process that is used to discharge debt is based off of U.S. Supreme Courts decisions, Title 15 United State Code (USC), the Fair Debt Collections Practices Act, the Fair Credit Billing Act, the Uniform Commercial Code (UCC), and numerous Banking and Lending laws.

Even with the reform, some bankruptcy protection is still in place. However, consumers must obtain credit counseling from an approved agency within six months prior to filing for bankruptcy. Also, the consumer may still be required to repay most of their debt. In addition, being enrolled in credit counseling will show up as a negative on a consumer’s credit report, as damaging to credit as a bankruptcy.

Jim Vrana of The True Debt Advisor (http://www.TrueDebtAdvisor.com) states, “A large percentage of people with debt trouble were not irresponsible with their credit cards, but have had some type of crisis in their lives.” He adds, “This program is giving people a fresh start on their financial lives. A ‘do-over’ you might call it. Without the credit-sting or shame of bankruptcy.”
    
Billed as The True Debt Advisor (http://www.TrueDebtAdvisor.com), Jim Vrana’s mission is to educate and empower people to overcome their financial challenges. The time-tested legal procedures used to eliminate credit card debt have been used by thousands of people with tremendous success. It is truly the alternative to bankruptcy, credit counseling, and debt consolidation. The program is applicable to all major credit cards and unsecured signature loans.

Contact:

Jim Vrana
True Debt Advisor
(800) 637-1785
http://www.TrueDebtAdvisor.com

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