Even if bankruptcy means the complete discharging of debts (if they have the right qualifications), there is still a certain amount of stress to it.
Miami, FL (PRWEB) April 24, 2013
Bankruptcy is probably one of the gravest things that can happen to a person’s financial life and Debt Consolidation USA warns debtors to think about certain issues before plunging into it.
The article entitled “Deciding if personal bankruptcy is right for you - issues to consider” was published on April 19. It discusses what bankruptcy means for a consumer and the importance of knowing other options to take.
The debt relief company encourages readers to “seek out others” who have gone through the same predicament. Even if bankruptcy means the complete discharging of debts (if they have the right qualifications), there is still a certain amount of stress to it. Based on the extensive experience of the company in dealing with people in debt, bankruptcy has a way of making one feel isolated. The article suggests that the Internet is a great venue to look for support. At least, this is another option if there is none in the consumer’s circle who is in a financial crisis.
Debt Consolidation USA warns people who will file for bankruptcy to never hide anything from the court. If the bankruptcy court finds out that the debtor had been dishonest about the records submitted, the case will be dismissed and may lead to the forceful payment of all debts.
The article also advises people that bankruptcy only works for certain debt types. For instance, student loans are not forgivable through this debt relief option. Also a debtor cannot include a credit card account that is still incurring debt. Any taxes charged to a card and then included in bankruptcy will also not be accepted by the court.
The company states in the article that if the consumer is certain that bankruptcy is the only option, then it should not be delayed. The wait may cause more stress and could give the “creditors a chance to repossess items” that would have been safe if the bankruptcy filing was done earlier.
The published article also encourages readers to learn everything that can about the bankruptcy laws. This includes the procedures, different Chapters and fees that may need to be paid. A bankruptcy lawyer is necessary at this point. And while lawyers are the expert in the whole process, the company urges consumers to never leave everything in their hands. It is best to know and understand what is going to happen and what to expect from the bankruptcy process.
While bankruptcy is not a part of Debt Consolidation USA’s list of services, they have various connections that can be of great assistance in referrals. Readers of the article can always talk to their debt experts so they can get professional advise whether bankruptcy is the only solution for the credit problems. Debt consolidation and debt settlement may be viable options and the debt relief company is willing to assist anyone by sharing information about the two other debt solutions.
To read the whole article about bankruptcy, visit the Debt Consolidation USA website. To talk to a debt expert, call 1(877)-610-6990.