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 - An AC Model M Crawler - by Anthony West. Neil Atkins is a man in his late thirties, a mild and patient character who talks fondly of his farming heritage. He farms around a hundred and fifty acres of arable land, in a village called Southam, located just outside Leamington Spa in Warwickshire. The soil is a rich dark brown and is well looked after. unlike some areas in the midlands it is also fairly flat, broken only by hedgerows and the occasional valley and brook. A copse of wildbreaking silver birch and oak trees surround the top si
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