More than they can pay
It depends on the amount you in your debt. If your debt is a large sum and figure, the best and most ideal thing would be to declare bankruptcy. If not debt settlement would be much easier.
There's no maximum amount. If you can't make your payments you file bankruptcy.
ALL of these are false: A amount of debt is less than the income earned B after bankruptcy you can't get credit for 10 years C everything you own goes into bankruptcy
Tons and Tons. Many hard working people are driven to Bankruptcy due to overwhelming medical debt. This is an unknown amount as this would be listed as an outstanding balance rather than a specific reason, medical costs like any other unsecured debt "could" be one of the reasons people do apply for bankruptcy
If you or your business has incurred a substantial amount of financial debt due to circumstances that were out of your control you may be eligible to file bankruptcy.
AnswerDebt settlement helps you in reducing your debt amount significantly, the debt settlement company negotiates with your creditors to reduce your debt amount. It is a better option than filing bankruptcy. I took help of Freedom Debt Relief and their debt reduction program helped me in reducing my debt amount.
No you are not, If you deglared bankruptcy, that cancels your debt
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Debt solutions or consolidation is something you should look into before filing bankruptcy. Consolidationg your debt allows you to make smaller payments over a set amount of time and can positively effect your credit.
No. If someone has a bankruptcy in their last 10 years with an above average income and a low debt-to-income ratio can't co-sign a student loan.
Credit card debt consolidation with the help of an accountant or a debt consolidation service and careful management of income can be helpful steps in reducing your credit card debt without declaring bankruptcy.
If you have a pile of unpaid credit card bills and simply can't pay the total amount due. Then you have two options for dealing with the debt you've accumulated: liquidation or bankruptcy. When you declare bankruptcy, you're asking court to wipe your financial slate clean.