Men of wisdom always think before they leap. And more so when you deal with a sensitive issue like the silver tonic and that is money. Money brings you power, money makes you self confident, money delivers you happiness and it is indeed money that makes this world go round. We are sure that you would not like to take up certain plans which will give you the title of a bankrupt or make a bigger hole in your pocket.

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When debt burdens are suffocating and you are in deep waters, the process of bankruptcy comes at your rescue, but with a lot of conditions. With a legal separation from the bondage of your partial debts, bankruptcy is both flexible and rigid.

Chapter 7 Bankruptcy: Through this process you are free from only a certain amount of your obligations, and the remaining part of your debts are expected to be paid to the creditors in due time. Chapter 7, or "straight bankruptcy", is the most popular form of bankruptcy since it allows the debtor to "wipe the slate clean" and start all over again. The things which takes place during chapter 7 bankruptcy is that non-exempt assets will go under the care of a trustee who liquidates them to satisfy creditors for their secured interests.

Chapter 13 Bankruptcy: Under Chapter 13 bankruptcy the debtor reaffirms to pay back his credits based on the income of the debtor. This pay back scheme can be within a range of 10% to 100% depending on the debtor’s income and the composition of the amount owed. This system of bankruptcy allows the debt logged person to restructure the payment, replacing within a new payment scheme which is usually in 3-5 years and more affordable.

• Your credits are hardly minimized whereas in debt consolidation we eliminate almost 40% - 60% of your loans.
• There are lots of conditions implemented by creditors in bankruptcy schemes whereas the debt consolidation companies totally take over your financial burdens and solve them.
• In bankruptcy you have to part with your assets whereas in debt consolidation care you have to part with nothing, but enjoy the benefits.
• Debt Consolidation gives you easy monthly options to pay back your debts which are already half way reduced whereas in bankruptcy schemes you are dictated by the creditors once again.

While keeping these very relevant factors in mind, you must be agreeing with us that Debt Consolidation is anyday a better option. It is a safer and more comfortable way to  free yourself from the nightmares of debts.