Bankruptcy

When severely deep in debt, many people instantly think of bankruptcy as a solution to all of thier money problems. This could not be further from the truth. While it is easier than ever to file for bankruptcy, financially, it is one of the most painful things to live through and should only be used as the last possible option.

Drawbacks to Bankruptcy

• Bankruptcy ruins your credit score. One of the obvious drawbacks to bankruptcy is that your credit score will be severely damaged. While many debt solutions do affect your credit score, the effects on your credit will last at least 10 years due to the bankruptcy appearing on your credit file.
• Bankruptcy will affect being hired for certain jobs. Jobs that require employees to be bonded, such as working at a bank or jewelry store, usually do not hire those with existing bankruptcies on file. They are deemed too much of a risk for employment.
• You will most likely lose all credit cards currently in your name, even if there is not an existing balance. The bankruptcy will make it very difficult to get home, car, or any large line of credit.
• There are high court costs associated with bankruptcy. If your lack of money wasn’t enough of a concern, you will become even more in debt due to having to pay your attorneys and the associated court costs.

Before you consider bankruptcy as a solution to your debt problems, please talk to one of our debt consultants to discuss all of your current options. Our debt settlement program may be a better option rather than filing for bankruptcy. We have helped many people in your exact situation, and you may have more ways to financial freedom than you may think. Contact us today to find out more!

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Our Satisfied Clients

You guys did a great job! My debt was paid off in full in less than a year. My quality of life has changed. And with the credit card you provided we are now rebuilding our credit to purchase a home. — K.D., Innovation Client**

My experience with the Innovation Financial has been wonderful from beginning to end and the results you achieved are remarkable. It is also noteworthy, that the fee I paid for such superior professional service must be one of the truly great bargains of all time. My warmest best wishes to you all. - R.S., Innovation Client**

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U.S. Organizations for Bankruptcy Alternatives, the nation's longest
running trade association.

Advancing human progress through an economic, political and social system
based on individual freedom, incentive,
initiative, opportunity, and responsibility.