Debt Relief Options
Before you commit to a debt relief plan, you need to get the facts. A quick or uneducated decision can cause more problems at a time when you are trying to eliminate them.
Use the following chart as a guide to your debt relief options. Depending on your circumstances, one path may be better for you than another. Remember: There are no one-size fits-all debt relief programs.
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| Foreclosure |
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| Repossession |
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| Lawsuits |
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| Wage Garnishment |
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| Accounts Referred to Collections |
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| Credit Card Debt |
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| Medical Bills |
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| Utility Bills |
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| Payday Loans |
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| Tax Debt | * |
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| Divorce-Related Debt | * |
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| Student Loans | * |
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When Does the
Relief Begin? | In most cases, you STOP paying bills immediately after case is filed. Collection efforts (creditor calls, foreclosure and repossession) are court-ordered to STOP | Typically have to make many monthly payments, including interest & late fees | Typically have to make many monthly payments, including interest & late fees |
| Can it Impact Your Credit? |
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* Discharged in bankruptcy under unique circumstances.
Talk to a bankruptcy lawyer today about your options. |
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