03 Apr Minneapolis Bankruptcy Alternatives
If you do not want to file for bankruptcy then you have a few alternatives. The first is pay all your bills in full. The second is negotiate a settlement of the debts with your creditors. The third option is consolidate your debts into one debt and one interest rate. The fourth option is to ignore the debts until the creditors pursue you with lawsuits resulting in judgements. Once they have the judgement you will not be able to ignore the creditor since they may pursue garnishment of wages or bank accounts.
The problem with the above options is they require in most cases to use exempt assets like 401k’s and houses to pay off debt that could be discharged in bankruptcy. So it is in your best interest to at least talk to a bankruptcy attorney, before you decide how to deal with your debt.