| I know it is hard to believe, but as much as folks out | | | | destroys you. It is one thing to settle a $300 debt. But |
| there would like to have a magic wand to wipe out | | | | these near mortgage size numbers that are tossed |
| their debt. No matter what you hear, there is not one | | | | around the Internet will cost you huge fees and then |
| coming from the US Government. | | | | while it is not the creditors preference to sue you, they |
| There are many new sites popping up all over the | | | | do have legal departments. Even if they drop the suit, |
| place with official looking government seals on them. | | | | you will have had to hire an attorney to defend |
| They are pretty. Some skilled web designers are | | | | yourself. It really isn't worth it. |
| cranking these things out. But there is no government | | | | President Obama himself has said he know a lot of |
| program out there. None, Not One. | | | | people are in trouble, has also said there is no free ride |
| The closest legitimate one you will find is bankruptcy. | | | | in all these various pieces of legislation. |
| In 2005 the bankruptcy laws changed. The end result | | | | This article is not a political piece at all. I am only try to |
| is the Chapter 7 filing that everyone wants is much | | | | present a painful truth. There is no easy or fast way |
| more difficult to get. | | | | out of this mess. |
| A Chapter 7 Bankruptcy is a court ordered liquidation | | | | For each of us there is a very personal side to the |
| of your assets. The specific laws vary by state, you | | | | suffering around us. Some of us see the suffering but |
| should carefully choose your attorney. Get one that | | | | don't feel it. Some see it and know they are |
| specializes in bankruptcy. A good one will not be | | | | uncomfortably close to the difficulty they see. Some |
| cheap, but is well worth the money. | | | | are deeply mired in it with no practical way out in the |
| A Chapter 13 bankruptcy filing is a court ordered | | | | foreseeable future. |
| repayment plan. You will need an attorney that | | | | Sadly, this downturn likely has years to go. |
| specializes in bankruptcy in your state. In short a | | | | We have to knuckle down and take our successes |
| chapter 13 takes your debt total, divides it by 36 | | | | one baby step at a time. For most us even that may |
| payments or 60 payments. You make monthly | | | | feel like a giant step forward. |
| payments to the court and the court pays your | | | | Take that step, whatever the size or frequency and |
| creditors at 0% interest. it is up to the Trustee. | | | | we will rise together. |
| To be avoided at all cost is debt settlement. It simply | | | | |