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According to me bankruptcy is not the solution to get out of debt.

You can choose one of the two either debt consolidation or bankruptcy. Consolidating your debt today reduces your monthly payment and saves thousands in interest.

Its better to consolidate your debt as many different types of debt consolidation services are available. They offer debt consolidation loan online to reduce your debt and also student debt consolidation services, debt settlement program, student debt consolidation, debt relief and more.

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Wiki User

15y ago
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deb tred

Lvl 7
3y ago

Chapter 11 may assist you with getting help from your obligation, yet it's imperative to ... You'll likewise need to meet a few necessities before you can seek financial protection. You'll ... Under Chapter 7, this happens after your resources have been sold and lenders paid. debt redemption

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BD dhaka

Lvl 6
3y ago

In case you're confronting huge obligation, obligation solidification and chapter 11 could be ... are so messed up that the main option is to give up and petition for financial protection. affordabledebtconsolidation.

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Lucretia Blankeny

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3y ago

X plus 1 and 1 plus x

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lashondafelton

Lvl 4
3y ago

NO!

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Q: What happens to debt consolidation when you file bankruptcy?
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Related questions

What happens when a creditor doesn't file a proof of claim in a bankruptcy case?

If it is not a secured debt it will be included in the bankruptcy discharge.


Can you file bankruptcy on a truck repo past due loan?

No, if you mean, can you single out this debt to "file bankruptcy on." You file bankruptcy on ALL your creditors. You don't get to pick and choose. But you can certainly include such a debt in bankruptcy.


What happens if my car is repossessed and then I file bankruptcy?

Any leftover debt from that car repossession can be put in your bankruptcy petition..so if you owed $12k and the bank sold it for $6k..then you can file bankruptcy on the remaining $6k.


Can you file bankruptcy for lawyer fees?

You cannot file a bankruptcy directed at one single debt.


If credit card puts lien on house and i file bankruptcy can i still file the credit card in the bankruptcy?

You have to, it is a debt...it is just a secured debt...by the lien on the property.


What are some ways to avoid having to file for bankruptcy?

One way is debt consolidation programs, where you combine all of your debt into one monthly payment, often with lower interest rates. Another is debt settlement, where you work with creditors to agree on a reasonable amount that you can pay.


Is the debt from a personal lawsuit removed when you file for bankruptcy?

no


Can you file for bankruptcy on a three thousand dollar debt?

no


Is better not to pay your credit cards or file for bankaruptcy?

{| |- | Bankruptcy is not an advisable option as it damages your credit for a long period of time, instead you can go for other debt relief options like debt consolidation or debt settlement. I consolidated my credit card debt with the help of Freedom Debt Relief, their debt reduction program helped me reduce my debt levels. |}


How do you stop wage garnishment for credit card debt?

file bankruptcy


If your wife included a joint car loan in her bankruptcy but you did not file bankruptcy are you still liable for that loan?

You will be responsible for the whole debt since you are the only one capable of paying the debt after your wife's bankruptcy.


How much debt can you have before filing for bankruptcy?

There's no maximum amount. If you can't make your payments you file bankruptcy.