New bankruptcy law

Filing bk is an important decision to make. The impact of this decision will have great ramifications on the rest of your life. George Bush definitely stuck it to the people when he passed the new bankruptcy law in 2005. The new law was supposedly supposed to cut down on bk fraud and reduce abuse. If was a huge gift to the credit card companies. It made it a lot tougher for people to file for bankruptcy. There is no right way to decide whether you should file bankruptcy or not.

Alternative to Bankruptcy

Educate yourself and fight back with your creditors

If you are feeling anxious in dealing with your creditors, what you may be lacking is education. The more you know about the process the more peace of mind you will have. Creditors work on you by trying to put fear in your brain. The more scared you are of them, the better chance you they have of collecting money from you. If you are committed to getting out of debt, you need to educate yourself and take control back in you debt negotiation process.

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Can I get sued while in a debt negotiation program

If you thinking about enrolling in a debt negotiation program and the company is telling you that only a small percentage of the clients get sued, they are lying. Over half of the clients get sued. A good debt negotiation company will know how to negotiate with the creditors so you wont end up in court. Debt Negotiation is a great option to settle your collection accounts. You just need to be informed about what will be in store for you in the future. It can be a bumpy ride, but if you are committed to being debt free, debt settlement is a great option. Anything you can do to avoid a BK is your best option. Just know that debt negotiation will take some effort on your part. Don't expect the debt negotiation company to do everything for you.

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