Bankruptcy is not the easy road myth may have you believe. Debt settlement is a good alternative to bankruptcy and you pay up to 50% of your total debt over a time period that is manageable for you. The rest of what you owe is cleared. Debt settlement helps you repair your credit rating a lot more quickly than going bankrupt.
To be a discharged bankrupt is harder than ever in these financially unpredictable times. According to the law you need to have credit counselling before you are discharged as bankrupt, and your bankruptcy is publicly visible for a further 10 years. This means that every time you apply for credit of any sort potential lenders can see