Marxque Inc.

Every year more than 1,200,000 Americans file for protection under the federal bankruptcy laws. Some have abused their credit or are financially irresponsible. However, some people who try to pay all of their bills can find themselves in financial trouble. Medical bills, a divorce or the loss of a job can quickly wipe out a life’s savings. For these individuals, bankruptcy can provide a second financial chance. At the same time, debt-settlement may be an alternative that can be assessed with an attorney in order to avoid bankruptcy at all cost.

If you have any questions regarding bankruptcy and debt settlement, contact one of our debt settlement attorneys.
What is bankruptcy?

Bankruptcy can allow a debtor relief from excessive debt by providing a fresh start. You are able to discharge some or all of your debt and it allows you time to get back on your feet without harassment by creditors. Bankruptcy laws can also benefit creditors by giving them a means to collect at least partial payment of a debt in a timely manner.

Filing for bankruptcy is a difficult decision. For some it carries a stigma of failure or irresponsibility. In fact, the majority of people who file for bankruptcy intend to pay their bills but can’t. By filing for bankruptcy, you are given a clean slate, free of the stress that results from financial problems. Before making such a decision it is important to speak with a bankruptcy attorney. In many cases the bankruptcy attorney will suggest to attempt debt-settlement and will refer you to a debt-settlement attorney for adequate representation.
Debt settlement

Debt arbitration is a legal process that facilitates the negotiation of debt settlement between the debtor and the creditor. It is evident that numerous people are not able to pay back their debts even though they have the intention to pay. For this reason debt settlement is an alternative to negotiate with the creditors in order to reduce current outstanding balances by a certain percentage.

The following are some common bankruptcy and debt settlement terms

* Bankruptcy Act
* Bankruptcy Court
* Bankruptcy Trustee
* Chapter 7 Bankruptcy
* Chapter 11 Bankruptcy
* Chapter 13 Bankruptcy
* Debtor
* Creditor

If you have any questions regarding debt settlement or if you need legal advice, contact one of our debt settlement attorneys.

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