If you are wanting to know how to clear all of your debts without bankruptcy then this article can help you create a systematic plan to help you out of your debt cycle.
In order to eliminate credit card debt without filing bankruptcy, you will need to take a look at the recent stimulus package that allows you to erase a portion of your credit card debt if you have at least 10K that you owe to any number of creditors.
Some people have asked question the question, does bankruptcy erase credit card debt? And answers is that it depends on how long your debts have been on your particular charge card and what type of attorney you have.
Charge card companies began in the 1980s with new laws that prevented Americans from being able to erase debts that were within 90 days and sometimes six months of when they file bankruptcy.
This was put into place because many people were taking advantage of the system that allowed you to bankrupt credit debt.
So if you have quite a bit of debt that you owe and if you want to know how to clear all of your debts without filing bankruptcy or how to eliminate credit card debt without filing bankruptcy, then looking at the stimulus package is the first thing that you should do.
And if you do not qualify, it is imperative that you call all of your creditors and ask them for help on how you can clear all of your debts without bankruptcy.
Because your creditor is very interested in helping you get back and does not want you filing chapter 7 or 11 or 13, they will be able to give you the best information possible on debt strategies.
So it is in your best interest and in their best interest to be upfront and honest with them if you have debts you cannot longer pay.