Loading ...
Sorry, an error occurred while loading the content.

Bankruptcy Alternatives Explained

Expand Messages
  • Tim Renolds
    Message 1 of 1 , May 1, 2006
    • 0 Attachment

      Message delivered directly to members of the group:


      Please consider this free-reprint article written by:
      Tim Renolds

      IMPORTANT - Publication/Reprint Terms

      - You have permission to publish this article electronically in
      free-only publications such as a website or an ezine as long as
      the bylines are included.

      - You are not allowed to use this article for commercial
      purposes. The article should only be reprinted in a publicly
      accessible website and not in a members-only commercial site.

      - You are not allowed to post/reprint this article in any
      sites/publications that contains or supports hate, violence,
      porn and warez or any indecent and illegal sites/publications.

      - You are not allowed to use this article in UCE (Unsolicited
      Commercial Email) or SPAM. This article MUST be distributed in
      an opt-in email list only.

      - If you distribute this article in an ezine or newsletter, we
      ask that you send a copy of the newsletter or ezine that
      contains the article to mark[at]netaffiliateinc.com (replace
      [at] with @)

      - If you post this article in a website/forum/blog, ALL links
      MUST be set to hyperlinks and we ask that you send a copy of
      the URL where the article is posted to
      mark[at]netaffiliateinc.com (replace [at] with @)

      - We request that you ask permission from the author if you
      want to publish this article in print.

      The role of iSnare.com is only to distribute this article as
      part of its Article Distribution feature (
      http://www.isnare.com/distribution.php ). iSnare.com does NOT
      own this article, please respect the author's copyright and
      this publication/reprint terms. If you do not agree to any of
      these terms, please do not reprint or publish this article.

      Article Title: Bankruptcy Alternatives Explained
      Author: Tim Renolds
      Word Count: 416
      Article URL: http://www.isnare.com/?aid=49603&ca=Finances
      Format: 64cpl
      Author's Email Address: mark[at]netaffiliateinc.com (replace
      [at] with @)

      Easy Publish Tool: http://www.isnare.com/html.php?aid=49603

      ================== ARTICLE START ==================
      There are many steps you can take in efforts to improve your
      credit, eliminate your debt, and avoid bankruptcy. Which should
      be the ultimate goal of all people, while bankruptcy is an
      excellent method of helping you clear up your debt, it should
      only be used as a last resort. Bankruptcy remains on your
      credit for up to ten years and it could result in the inability
      to retain any other type of credit until it has been removed or
      several years has passed.

      On thing that a debtor can do, this is especially true if they
      have no income or assets, is to do nothing. Yes that is right
      nothing, if you have no assets or income that can be garnished
      bankruptcy would not benefit you in any way, your financial
      situation would not change as a result. It is likely that
      without anything of high value, credits would not attempt to
      take any court action against you because there would be
      nothing they could collect.

      Another step you could take is to undergo credit counseling,
      you would learn how to manage your money to reduce the debt.
      You could create a budget that contains your monthly income and
      expenses, thus reducing expenses. By doing this, any extra money
      you have could go towards reducing the debt you owe to

      You could also begin negotiation with your creditors, most of
      them realize that bankruptcy is a viable option for those who
      have more debt than they can handle. For this reason, most will
      be willing to �take what they can get� rather than get nothing
      if the debtor files bankruptcy. This option requires that the
      debtor has income or assets that can be used in efforts to
      raise money to apply towards the debt you owe. Additionally,
      this can allow you to rebuild your credit instead of applying a
      negative bankruptcy on it.

      Debt consolidation is another bankruptcy alternative that many
      could consider, by consolidating your debts into one low
      monthly payment you could easily reduce the amount of your
      debt, get the creditors off your back and avoid bankruptcy.

      Finally, another option of avoiding bankruptcy is to make a
      formal proposal directly to your creditors. This proposal or
      also knows as a deal, will allow you to create a payment plan.
      It is all dependent upon what area of the world you live in and
      the laws surrounding the area of debt compromise.

      About The Author: Tim Renolds is the owner of
      http://www.loan-source.co.uk a website providing Uk homeowners
      with a free loan quote service. Visit us today for a free no
      obligation quote.

      Please use the HTML version of this article at:
      ================== ARTICLE END ==================

      For more free-reprint articles by Tim Renolds please visit:
    Your message has been successfully submitted and would be delivered to recipients shortly.