3 May 2006
My debt situation is bad. Is bankruptcy my only solution?
Absolutely not. Many people wrongly assume that when they get into financial trouble that bankruptcy is the only alternative.
Historically debt manangement plans provided some benefit but today they are not near as safe as they once were. The most effective bankruptcy alternative available today is an IVA where your debt is settled for pennies on the pound in a binding plan with your creditors.
Before deciding on bankruptcy as the sole solution you would be smart to speak confidentially with an experienced debt advisor and get a second opinion.
