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The only bankruptcy option would be a chapter 13 assuming that the involved party qualified. Debt consolidation programs can sometimes be helpful but the consumer should be extremely cautious in dealings with such businessess. Keep in mind, creditors do not have to accept any repayment offers made by the debtor and/or a consolidator. It might prove helpful for the debtor to contact the legal aid office in their area for advice. Most bankruptcy attorneys offer free or minimal fee consultation to discuss what choices are available in relation to the debtor's personal circumstances. (American Bar Association)

2006-07-28 12:23:54
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Related Questions

Should a Christian file bankruptcy?

Filing bankruptcy has no affiliation with religion. If filing bankruptcy is he best financial options available, then you should do it.

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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.

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Why not wait for the refund and buy a car for that amount. See if you have any other options because bankruptcy stays on your financial record for life now. And you do have to pay it back, they no longer they dismiss the debt.

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