Bankruptcy is a federal program.  The government passed laws that guarantee you the right to discharge your debt.  That’s right, if you cannot pay, you don’t have to.  There are certain terms and conditions, like you can only do it every eight years or so, and some debts are more difficult to discharge than others, but the government gave you this right.

Debt settlement was created by creditors.  Creditors hope to convince you that you are better off paying your debt over time than to use the government’s program where you don’t have to pay your debt at all.  Even the sites rating the debt consolidation companies are run by the creditors recommending their own sites.  It is a scam.

Filing for bankruptcy is the safe, secure, government approved way to deal with your debt.  Bankruptcy exemptions let you keep all of the assets you need while discharging all of the debt you don’t.  It is overseen by the federal government, so you are not dealing with a greedy bank.  The only fees you pay are to a bankruptcy lawyer, who has to disclose them to the Federal Bankruptcy Court.  There is no more stigma asking the government for help with your debt than asking the government for help if you loses your job.  It’s what the government is supposed to do.

Dealing With Debt: When You Can’t Pay Your Bills
Debt Settlement & Negotiation
Debt Relief Lawyers
Wage Garnishment
Car Repossessions
How Creditors Collect Debts
Managing Credit Card Debt
Creditor Lawsuits
Debt Collectors & Debt Buyers
Student Loan Debt
Credit Repair
State Debt Management Centers