Well you’re wondering how to get out of debt
without bankruptcy. My name is Andy Forman. I’m a consumer and business bankruptcy in
Tampa, Florida. And I deal with people who have financial challenges every day. Not everybody
wants to file a bankruptcy, and candidly, not everybody needs to file a bankruptcy.
There are ways to get out of debt without filing. Obviously, every case is different,
and you need to consult with a professional. One of the ways of getting out of debt without
filing a bankruptcy is to go to an organization such as Consumer Credit Counseling Service.
It’s a non-profit organization that charges a small fee to the creditors. And they negotiate
compromised payment plans with the creditors. They look at a budget, they help you formulate
a budget, they negotiate with your creditors, and they basically give you a payment plan.
You have a payment every month, and over time as the debts are retired, your credit will
improve, your debt level will go down, and you’ll not have a bankruptcy on your credit
report. There are other non-profit credit rehabilitation businesses that offer what
are called debt management programs. And they do essentially the same thing; negotiate with
your creditors and avoid having a bankruptcy on your credit report. My name is Andy Forman.
Good luck with the work out. You’ll do fine.