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Avoid Bankruptcy

 

To avoid Bankruptcy many people use 1 or more of the loss mitigation services offered in our video series. 

Filing Bankruptcy can be the easy alternative in the short-term to communicating and negotiating with creditors about debts and your financial hardship.  Unfortunately for those that take the road that is easier in the short-term it normally results in a less favorable situation than those experienced by people who are able to perform under pressure. 

 

Whether it’s Debt Consolidation, Debt Settlement, Loan Modification, Foreclosure Mediation or even Credit Repair to avoid bankruptcy is not something many would describe as fun. You are able to be creative and by the end of it you will likely have a much better understanding of your finances.

 

Your creditors would like to get as much money from you as they can (big shock).  Unfortunately many people don’t understand what creditors are likely to recover based on their decisions.  Knowing how much your creditor stands to lose in different situations is a great place to start when evaluating what your potential options are.  Your creditors would like you to have everything go your way in life and that way you would be in a much better position to pay than if you were experiencing a significant financial hardship.

 

Many people avoid bankruptcy by explaining to their creditors their situation including information that is verifiable from their credit report (since most times creditors are able to view the credit report).  This information would tell a creditor they are very unlikely to collect any money since they consider some people to be “Judgment Proof”.  Many creditors experience a complete loss when a client goes into a chapter 7 bankruptcy and with chapter 13 they will likely have to wait for a portion of their money.  This is why your creditors are normally willing to help you avoid bankruptcy. 

 

 

 

Credit Service Organization License # 3501
Covered Service Provider License # 3379
8430 West Lake Mead Boulevard, Suite 106
Las Vegas, NV 89128
Telephone: 702-489-6575
Fax: 702-489-6576