If you were looking into the option of bankruptcy, you should know the bankruptcy law was changed.. If you did not file prior to October 17, 2005, your options have now dwindled. There were sweeping legislation changes that have effected your ability to file. These changes were made solely with the creditor/collector in mind.

Now, prior to even filing, you must attend a "Debtor Education Course". While disguised as an educational course, it is actually a means test to see if a "reasonable" repayment plan may get you back on your economic feet. The problem here is the definition of "reasonable" is determined by the court and not by you.

Once you complete the course, any recommendation as to a repayment plan made by the course officials MUST be submitted to the court. Although you will not have to agree to that particular recommendation, the court will take it into consideration.

Once you have completed your bankruptcy, you will have another class to attend prior to getting the bankruptcy discharged. These courses are at your expense. Many consumers have to pay as much as $1000.00 up front to take the course. This is above and beyond the other costs involved such as filing fees, attorney fees and court costs.

One thing that has remained a constant with bankruptcy is the social stigma involved. Bankruptcy is very public! Your name WILL BE posted in your local newspaper causing you embarrassment among your friends and colleagues. Of course no bank will want to finance you for the next 10 years. Forget getting any sort of security clearance for a government job. It really is the proverbial black mark they say it is.

Many, after going through bankruptcy, find themselves in an endless loop of dispare. One major concern is applying for a job. Many employers now wish to see your credit report. They may deny you employment due to a bankruptcy. You then cannot pay your bills because you cannot get employment. Since you cannot pay your bills your credit rating gets worse. Then starts an endless circle that quickly spirals out of control.

Please do not file for bankruptcy before talking with us. We are not a "high pressure" sales oriented company. First and foremost we want people to be educated of their rights and responsibilities concerning debt. We are here to help.