Bankruptcy

In 2009, over 1.5 million Americans filed for bankruptcy. This process can pay you either reorganize debt or discharge it altogether. Before filing, you must receive credit counseling, which is a good side effect of the new, stricter bankruptcy laws. During counseling, you will receive information on your other options, which may actually indicate that you do not need to file and can find other, less damaging, ways to relieve your debt. If you do file, the bankruptcy will stay on your credit report for seven years and make it difficult for you to obtain favorable loans and credit. It is important to be aware that while bankruptcy can help alleviate debt, it takes an average of 10 to 20 years to fully recover financially.

Impact Debt Solutions can do the legwork for you and assist you in determining if Bankruptcy is the right option for you. Our Debt Advisor will provide a FREE customized financial analysis to help you make the decision. Call our Debt Advisors right now at 800‑581‑6020 or fill out the short form and we will get you started on the path to financial freedom.