Is Debt Resolution – Non Bankruptcy Right For Me?
While filing bankruptcy is often the most effective way to resolve debt issues, we can discuss other options with you. If you go to a law firm that “exclusively” works on bankruptcy cases, you are going to be sold a bankruptcy. We recognize you may not want to file a bankruptcy or be able to file a bankruptcy, or have problems that cannot be fixed by a bankruptcy filing. We will tell you the truth about you situation and if you elect to attempt to deal with your creditors in a fashion that does not include a bankruptcy, we will aggressively represent you.
A WORD OF WARNING – experience has shown us that many of the “debt resolution” programs you see advertised are actually very predatory and make your situation worse. If it sounds too good to be true, it probably is.
BE FOREWARNED that even if you do reach a resolution with some of you creditors or they ultimately simply write off your debt, they may send you an IRS 1099 notice reporting the unpaid debt as taxable income. Having the IRS as a creditor is usually much worse than dealing with any other creditor.
Finally, even if creditors give up on your debt and cease collection, the debt will almost certainly be packaged along with other written-off debts and some to firms that specialize in collecting bad debts. These firms often resort to improper and sometimes illegal collection tactics and rely upon harassing you – sometimes even if the debt is no longer legally collectable.