HOWEVER that DOES NOT discharge the debt, its more to protect them from being hassled and limits what debt collectors can and can NOT do.
2) You ask "what can they do" well the debt collectors know they cant get blood from a turnip so they (debtor) have to do their homework and lay out a budget of what they can truly afford to pay, THEN CONTACT EACH CREDITOR and lay it on the line, this is what I can do and be aggressive and assertive and NEGOTIATE.......
DO NOT just let it go, the law favors the creditor so long as the FDCPA is complied with. The spector of BANKRUPTCY instills fear in creditors because if the debtor takes that route and is successful then EACH creditor ONLY gets what the court might order which may be .50 on the dollar or even less. If the debtor is good at communicating with and negotiating with the creditors to the point they realize they may get less (and be afraid of) via bankruptcy they are more willing to negotiate.
I would worry more about and pay any secured obligations over those non secured
Hey I cant answer here what it really takes libraries to fill and also BEWARE of these TV ads where firms act like if you contact them they can solve all yoru credit problems, many are rip offs.
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Today's Featured Article - On the Road with Dave Gohl: Deere Departed Friend - by Dave Gohl. Have you ever had to part with a dear friend? It's not easy. If it's due to death, your feelings could be in disarray for days, months or even years. Even now after almost 4 years, I still miss my dad. I remember when I was a kid my dad sometimes would tuck my brother and I in at night and we would ask him questions about his childhood on the farm. To this day, it's some of the best stories I've ever heard. And now, I'm so glad that I asked those questions, and if I were a little smarter i
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