Bankruptcy is a ten year mistake!

Bankruptcy may not be the solution to heavy debt that you think it is. Going bankrupt has many consequences. Check out Bankruptcies, Chapters 7, 11 & 13 here.


    Why? For United States residents:

    • It does not wipe out most mortgages on property. The law protects properly executed security agreements on automobiles and homes, up to their value.
    • It does not wipe out claims for alimony or child support.
    • It does not wipe out most Taxes.
    • It does not wipe out government insured student loans.
    • It does not wipe out claims arising from fraudulent representations to obtain funds, or willful injuries.
    • It does not wipe out debts for substantial purchases made shortly before the bankruptcy filing.
    • If you file a bankruptcy; it may stay on your credit report for up to ten years!

      For a view of the actual federal bankruptcy law relating to non-dischargeable debts CLICK HERE!



  • Communicate with your creditors and try to develop a pay plan which more adequately meets you current situation.
  • Prepare a written budget to plan your future expenses within your means.
  • If you need assistance, contact the Consumer Credit Counseling Service in your area, which can assist at little or no cost to you. For the address of your local Consumer Credit Counseling Service, call 800-388-2227.

For further details about their service CLICK HERE!


Creditors desiring assistance on bankruptcy matters can
find legal counsel by viewing the AttorneyFind Directory