Search:

Would you like to contribute to this site? Bankruptcy Menu Submit an Article Submit a Tip Place your Ad Add URL Bankruptcy Questions? Contact Us  Bankruptcy Law   Bankruptcy Laws By State   Bankruptcy Information   Personal Bankruptcy   Business Bankruptcy   Company Reorganization   Chapter 7 Bankruptcy   Chapter 7 By State   Chapter 11 Bankruptcy   Chapter 13 Bankruptcy   Filing For Bankruptcy   How To File For Bankruptcy   Filing Chapter 11 Bankruptcy   Filing Chapter 7 Bankruptcy   Filing Chapter 13 Bankruptcy   Bankruptcy Forms   Bankruptcy Attorneys   Bankruptcy Attorney States A-L   Bankruptcy Attorney States M-Z   Nevada Bankruptcy   Bankruptcy In Texas   Bankruptcy In Florida   Bankruptcy Lawyers   Bankruptcy Lawyers By State   After Bankruptcy   Loans After Bankruptcy   Bankruptcy Loans   Mortgages And Bankruptcy   Bankruptcy And Credit   Bankruptcy Credit Cards   Bankruptcy Records   US Bankruptcy Court   Bankruptcy Court By State   Bankruptcy Resources   Debt Settlement   Debt Settlement Services   Going Bankrupt   Free Bankruptcy   Bankruptcy Help   Types Of Bankruptcy   About Bankruptcy

Return To Bankruptcy Article Archive   How to Get Out of Debt Without Filing Bankruptcy By April Claeyssens With the world economy in crisis, people are scrambling to deal with their growing debt. In the United States alone, consumer debt has reached $29.6 trillion dollars. The average credit card debt for people with at least one credit card is $9,205. That's triple the average in 1990. But for now let's forget about these grim statistics and figure out the steps you can take to get out of debt without filing bankruptcy. To begin with, the worst thing you could do is to consult with a debt consolidation company. All they do is then steal your money (last time I checked it cost $600) and give you advice that amounts to empty talk. It's a huge industry and most people who have tried it will tell you how they just lost another $600 they couldn't afford to lose. While we're in the biggest financial crisis since the Great Depression, the best thing you can do right now is to work for yourself. It's time well spent. Save the money and become your own personal financial consultant. The simplest place to start is to figure out where your money goes each month. When making purchases, ask yourself if you're buying a luxury item or a necessity item. Most times the answer will be a luxury item. Try not spending anything extra for 30 days. This will give you a true picture of where your finances stand and how much money is left over. Don't expect that getting out of debt will be an easy process. Anything worth having takes time and dedication. Go on a debt diet. Lay out your finances as they are and decide where you can cut back. Start buying generic foods in bulk. Understand your gas and electric bills. The utility companies will come to your house for free and tell you where you're wasting money. Remember, every dollar counts when trying to live a frugal life. It can be done if you're committed to getting out of debt. Always pay your bills on time. Credit agencies are cracking down by increasing interest rates to an incredible level with even one late payment. Start living with cash. If you don't have the cash to make a purchase then you can't afford it. By living in a frugal manner, you can get out of debt and won't have to consider bankruptcy. If you file chapter 7 bankruptcy your credit score will be affected for the next 10 years. If you file a chapter 11 bankruptcy your score will be affected for the next 7 years. The average bankruptcy attorney charges $2,000 up front money. You will be better off and happier by not filing bankruptcy at all. It is possible to get out of debt. It took a lot of time to get in debt and it will take time to get out of debt. But in the end, you will have learned some valuable lessons and never have to worry about debt again. That's the goal. Hi! My name is April. I've worked as a Bankruptcy Paralegal and know how things work. I have written this article to show you how to avoid bankruptcy. By going to my website, you will find more information and bankruptcy statistics. Please check out my website at http://savemoneysavetimenow.com/bankruptcy keywords: debt | without | bankruptcy Debt Settlement Advice

Get your Bankruptcy questions answered... Subscribe to our Bankruptcy Newsletter FREE! Your First Name: Your Email Address: Enter above security code

Home  |   Bankruptcy Blog  |   Ask the Bankruptcy Expert  |   Bankruptcy Archive  |   Bankruptcy RSS Feeds  |   Advertise  |   Sitemap