HOW TO STOP YOUR CREDITORS COLD!

Wipe Out Your Debts!
If you're afraid to answer the phone because your creditors have
been calling every night; and you're worried that one of them is
going to call your boss and tell him you're a deadbeat;  and
just trying to pay off your bills leaves you almost nothing for
food - it time you thought about bankruptcy!

With a small amount of money, a lawyer (and even he's not
necessary a lot of the time), and a careful evaluation of your
assets (what you own) and your liabilities (what you owe), you
too can make a new start with the help of the Federal and State
bankruptcy laws.  But don't rush into this without carefully
determining which is the right way for you, for there are
several different ways to stop your creditors cold, and choosing
the wrong way can result in your losing much more than you might
otherwise have to.

Straight Bankruptcy Usually Costs Less, and It's Quick!

If you have very few assets, and lots of debt, and not enough
income to pay the debts off, even on an extended plan (more
about that later), then you will probably have to file straight
bankruptcy.  You must file the proper forms (or "schedules")
which you can purchase from any really good office supply
stationery store in your nearest city, especially one in a
district where there are lawyers' offices.

Bankruptcy is not a very complicated court action, so don't be
too afraid of it.  You will need to know which district you live
in for Federal Court purposes;  look in the telephone (white
pages) under U.S. Government - Courts, and locate the U.S.
District Court in your nearest city.  Probably that court has
jurisdiction;  but check this out by phoning the Clerk of the
Court and asking him, giving him you home address.  You will
have to fill out several "schedules" or lists of your creditors:
creditors having priority, creditors having security, and
creditors having unsecured claims without priority.  You must
list every creditor, for any one that is not listed can still
sue you and collect, even after the bankruptcy!  If you don't
know if a debt is secured (backed up by a related asset, like
refrigerator bought on an instalment loan) or unsecured (made
only on your personal reputation, with no related asset), ask
the creditor.  Include as a creditor the name of anyone for whom
you co-signed a loan or note, and anyone who co-signed for you.

What Will You Have Left?

Will you be put out in the cold without food, clothing and a
house to live in after your creditors get paid?  Not at all -
because most State bankruptcy laws allow some of your assets to
be "exempt" from being used to pay your creditors!  You must
check the specific laws of your State, but usually, the house
you live in, the tools of your trade, your personal clothes
(within reasonable limits) and certain specific basic home
furnishings are all not taken away from you.  In fact, in this
totally absurd world we live in, many States now permit you to
also keep your TV set(!), because, apparently, they regard it as
a necessity for life!
DuniaKita

HOW TO STOP YOUR CREDITORS COLD!

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