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Printer friendly versionWhy speak to Mark Silverthorn before filing for personal bankruptcy?
Mark Silverthorn may be able to help you avoid paying some of your unsecured debts collection agencies claim are owing without you filing for personal bankruptcy.
Filing for personal bankruptcy should be seen as a last resort?
Filing for personal bankruptcy today should be viewed as a last resort. New bankruptcy laws came into effect on October 17, 2005, and the changes to the country’s bankruptcy laws favor creditors at the expense of consumers. Not only is bankruptcy harder to obtain today, it is not as attractive as it used to be. Filing for Chapter 7 bankruptcy may involve the loss of most of a consumer’s assets. Filing for Chapter 13 bankruptcy may mean a bankrupt has to repay certain debts over several years. Furthermore, people who file for bankruptcy will encounter difficulties obtaining credit for many years following discharge from bankruptcy.
Your situation may not be as bleak as you think
Your financial situation may not be as bleak as you think. You may be assuming that you have to pay all of the debts that debt collectors claim you owe. In fact, in many cases you may be able to avoid paying unsecured debts. You may have a good defense, or the odds of a debt collector recovering monies from you may be very low, or you might be able to use a debt collector’s misconduct to avoid paying a debt.
Alternatives to bankruptcy
The fact that you are eligible to file for personal bankruptcy does not necessarily mean that you should file for bankruptcy. In 2004, there were 1.5 consumer bankruptcies in the United States. Thousands of Americans file for personal bankruptcy each year when it is not in their best interests to do so.
Why file for bankruptcy if you can avoid it by not paying one or more unsecured consumer debts that collection agencies claim are owing? You can call Mark Silverthorn and he can explain how you may be able to avoid paying debts collection agencies claim you owe. If you are able to avoid paying some or all of your unsecured debts you may be in a position to avoid personal bankruptcy because of your improved financial position.