What are my choices regarding unsecured debt?
• You can elect to do nothing. Of course, this solution can make things worse. The harassing phone calls from debt collectors will not go away. You have a debt which is a legal obligation and must be addressed or it will never go away. Keep in mind that your personal property could be seized. • You can elect to file Chapter 7 bankruptcy. This solution is at times a good alternative to traditional debt management. This process requires you to apply within the court system and based upon income, it must be above a certain level as well as you will be making a predetermined payment each month to each creditor. • Chapter 13 Bankruptcy is another option. You will be dealing will be with a court appointed trustee and your living expenses will be cut to the bare minimum. This process can take 3 to 5 years depending on your income. In some cases this option should be considered if you want to prevent law suits, are about to have your home foreclosed or do not qualify for Chapter 7 • You can ch
