After Bankruptcy Reform, Consumers Are Now Learning How to Discharge Debt

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Americans carrying too much credit card debt have had the Bankruptcy option swept away. Many are now turning to a little known alternative; discharge 100% of their debt without bankruptcy, consolidation, or refinancing.

Thanks to the new bankruptcy reform laws, many Americans who are overburdened by their credit card debt will no longer qualify for Chapter 7 bankruptcy protection. However, consumers need to know that an alternative exists for people to walk away from 100% of that debt.

The process that is used to discharge debt is based off of U.S. Supreme Courts decisions, Title 15 United State Code (USC) section 1692, the Fair Debt Collections Practices Act, section 1601, the Fair Credit Billing Act, the Uniform Commercial Code (UCC), section 203, and numerous Banking and Lending laws.

There are many cases that have already been decided on when it comes to the issues of money, credit, and banking. The collection of interest on credit issued by a bank or a credit card company is in direct violation of all usury laws. In addition, the United States Supreme Court has ruled time and again against the legal authority for banking institutions to lend credit. Both Federal and state laws allow banks to lend money, but banks do not have the authority to loan credit.

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 ( 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 (, 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 has 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.


Jim Vrana

True Debt Advisor

(800) 637-1785

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