Ryan S. Wright Consumer Bankruptcy Law Blog on Lawyers.com

If you are facing garnishment, lawsuits, foreclosure, multiple creditor collections, reduced employment or unemployment, or not being able to afford even the necessary expenses to live, THESE ARE THE THINGS YOU NEED TO KNOW:

1. CREDIT COUNSELING & DEBT SETTLEMENT ARE UNLIKELY TO WORK.

Neither can force any of the creditors to go along with their services, stop interest, or stop lawsuits. What good does it to be paying all your money toward a couple bills just to have one of your other creditors sue you!?! People waste lots of time and money in ineffective credit counseling and debt reduction programs, just to be in a worse position a year later.

Debt settlement programs are the worst of the two. They provide you with no service you cannot do yourself. They tell you to quit paying the creditors and save up the money to make lump sum offers?!? That may work for the first couple of creditors, but meanwhile, the others start suing because they aren't getting paid anything. Unless you only have a couple creditors, then you are just making your situation worse, and the Debt Settlement company knows it when they sign you up!

Often, in the contracts/fee agreements for these Credit Counseling & Debt Settlement companies, a large portion to most of what you are initially paying is going to go to pay them, not your creditors!

2. THERE IS NO SUCH THING AS "MAGIC" CREDIT REPAIR

If it sounds too good to be true, IT IS! You cannot repair your credit without paying the bills in anyway except with an Indianapolis Bankruptcy. It is the quickest way to push "reset" on your credit history and have a chance at re-establishing good credit. These companies just want to make $$$$. You will be in a worse position after they "help" you.

3. NEVER LISTEN TO A DEBT COLLECTOR

The debt collector's job is to get $$$ from you. They will sometimes say or do anything to get it (they get "bonuses" based on getting you to pay). Even if they aren't being outright abusive in how they talk to you, they will not tell you things to try and trick you into making the situation worse for yourself! "How about making a GOOD FAITH PAYMENT"? Of course they want you to do that!! First, it extends the time the can report the bad stuff on your credit report. Secondly, it may give them info on where you bank. A collector is not interested in helping you. They only care about getting paid. They will misinform you about the law, your legal rights, what they can and cannot do to you, etc. IF YOU WANT REAL INFORMATION YOU CAN TRUST, speak to our Indianapolis bankruptcy law firm today.  There is no charge to find out your options.

No one wants to file for bankruptcy in Indianapolis , but that's what it's there for...to help you. It is the only guaranteed way to stop your creditors from calling you multiple times a day, harassing you, suing you, freezing your bank accounts, garnishing your wages, etc. etc. Debt release has been around since the Old Testament. Abraham Lincoln used the protection. Businesses use the Bankruptcy laws all the time to help put themselves in better financial positions. It is not a moral issue of not paying your creditors. It is a financial issue of allowing people to be able to lead productive lives again. If the government didn't want people to be able to get help, the laws wouldn't exist! Besides, if you took away all the interest and extra fees they've added on, you've probably paid the creditors multiple times over what you actually owed them!!

Contact us for help with your Indianapolis chapter 7 bankruptcy or Indianapolis chapter 13 bankruptcy to find out what you can do to help yourself, or just to get some answers from an uninterested party.