7 REASONS TO AVOID BANKRUPTCY:
1. You will give up control of your assets to the court.
2. There is a stigma associated with bankruptcy. It is commonly viewed as failure and weakness.
3. Chapter 7 can be reported for 10 years, and a Chapter 13 for 7 years.
4. Your bankruptcy is part of the public record. Anyone will be able find out you filed for bankruptcy.
5. For the rest of your life, you'll have to answer yes to the question "Have you ever filed bankruptcy?" on applications, forever reminding you of the pain of your decision.
6. It stays on your master credit report for life and can make some types of credit nearly impossible to get. Even when you are once again able to qualify for a loan, you'll pay more interest due to your bankruptcy.
7. Sometimes bankruptcy is not enough. Some people file and still have difficulty making ends meet, having mistakenly thought that bankruptcy would end their worries.
Debt Arbitration Programs provide you with one low, affordable monthly payment. Based on your monthly budget, one of our debt analysts will be able to set you up with affordable payments considerably less than you're paying now.
