This page is for anyone who is trying to avoid bankruptcy. For those who are not trying to avoid bankruptcy, you don't have
to read further.
So I haven't lost you yet. Actually, in the twenty years I have been involved with bankruptcy, I haven't met a single person
whose goal was to file bankruptcy. People come to me after agonizing over the possibility that they might have to file for
bankruptcy. Almost every person I have represented has said that they did everything they could to avoid bankruptcy.
I am going to discuss some options that might help you avoid bankruptcy, but I encourage you to think about consulting an
experienced bankruptcy attorney to help you during this process; sooner rather than later. You need to know whether bankruptcy
is a good option for you or not, even as you are trying to avoid it.
Some people are able to avoid bankruptcy. Many people who file bankruptcy, have tried at least one of these trying to avoid
bankruptcy, and they come back to hurt them later.
*Refinancing your house to pay off high interest debt.
*Consolidating debts into a better rate loan.
*Credit Counseling that consolidates payments into an affordable repayment plan, perhaps with reduced interest.
*Workouts or settlements with the creditors.
*Borrowing money from friends or relatives.
*Reorganizing budgets and lifestyles to free up funds to repay debts.
While these work for some people, for those that it doesn't work for there can be disastrous results. These solutions shouldn't
be tried without a really good understanding of what you are doing, and being certain that you will be able to deal with the
I am tired of saying the following words:
"I wish you had come in earlier because I could have helped you if only you hadn't done _______, but I can't help you now."
I also hate saying any of the following things, after I say "I wish you had come in earlier because I could have helped ...."
...keep your house.
...protect your retirement.
...save you from years of collection calls.
...keep you from bringing your family into this.
...save you from wasting thousands of dollars trying to pay debt you clearly can't afford.
Every good bankruptcy attorney should turn away people who shouldn't file bankruptcy or has wiser options. Every good attorney
should explain what bankruptcy is and whether it has advantages for that person, as well as any non bankruptcy options that
attorney thinks may help. Consulting a lawyer should be one of the first, not last steps, if you are trying to avoid bankruptcy.
An attorney is charged with the task of giving you the best advice they can for your situation, not just steering you into
a bankruptcy because you asked about it.
The internet provides lots of information and steers you to sites that say they offer help. TV and radio ads urge you to
contact that company for help with your debts. With these companies, you are told about the service that company provides,
but rarely are you given any alternative options. Without understanding the laws and ALL of your options, you may be making
decisions based upon incomplete information.
There are many unscrupulous companies and you have little recourse when you find that you made a mistake working with them.
You have to be careful.
You should think of an attorney as a clearinghouse of ideas. In your quest to avoid bankruptcy, why don't you add a consultation
with a bankruptcy attorney, and bounce those ideas of someone who is on your side and obligated to tell you what is in your
To read my article on the Bankruptcy Law Network go to
For more information on debt settlement go to