What are the alternatives to bankruptcy?
Author: Tracy Carlye
Website: http://www.trxcredit.com
Added: Thu, Nov 2, 2006 7:05:25
Category: Credit Questions
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You can try the following alternatives to bankruptcy:
• You can do nothing. There is no need for you to take any action. Instead, you can make a judgment proof, meaning that no one who sues you can get anything from you because you do not have anything.
• You can take advantage of the federal and state debt collection laws to protect you.
• If you have some income and assets that can be put up for sale, you can use these instead of taking out bankruptcy.
• You can negotiate with creditors or other agencies to arrive at an agreement about payments. The advantage of doing this is that no bankruptcy will appear on your credit record.
keywords: Credit | Credit Card | Debt | Credit Report | Loan | Bank | Bankruptcy About the Author:
Tracy Carlye answers frequently asked credit questions at PrettyGreatAnswers.com.
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