Debt Relief

Let’s face it… we all owe money to someone. Sometimes this debt becomes unmanageable for whatever reason.  There are options out there to help you with debt relief, and A Better Way can help you with all of them!

One common form of debt relief comes in the form of debt consolidation.  This is where all your debt gets pooled together and you make one payment a month to whoever is managing the consolidation.  Once the consolidator takes their fee, they disburse the rest of the monies to your creditors.  This type of debt relief is very similar to the Chapter 13 bankruptcy process, but it lacks some of the benefits and protections of the bankruptcy court …Read More

When most people consider filing bankruptcy for debt relief, they are thinking about filing under Chapter 7 of the Bankruptcy Code. A Chapter 7 bankruptcy is a straight wipe out of all of your debt, with a few exclusions thrown in.

Chapter 7 bankruptcies may be filed by an individual, a husband and wife together or separately, as well as corporations looking to stop operations completely. A Chapter 7 bankruptcy is the most commonly filed form of bankruptcy, as well as the quickest way to get a “fresh start.”  A discharge, or “wipe out” of the debt can be achieved in as …..   Read More


The Difference Between Chapter 7 & 13

Making the decision to file for bankruptcy is often a difficult choice.  It is never a goal set on your life’s “bucket list.”  That is why there are procedures in place that help individuals who find themselves stuck in a financial trap looking for a means to escape.  So now that you have committed to asking for relief that only the bankruptcy court can provide, the next decision is which chapter is right for you. Chapter 7 bankruptcies are basically a straight “wipe out” …    Read More


Chapter 11 Bankruptcy Basics

Many individuals believe when they file their personal Chapter 7 bankruptcy petitions that they are really seeking relief under Chapter 11 bankruptcy.  This is because personal Chapter 7 bankruptcies rarely make headlines the way Chapter 11 bankruptcy petitions do.  Chapter 11 bankruptcy protection is generally awarded to businesses and corporations attempting debt relief by  restructuring the debt load so that the new corporation which emerges is profitable.  Chapter 11 in Bankruptcy Code is also used for certain special situations involving individuals as well…. Read More


Chapter 13 In A Nutshell

While Chapter 7 bankruptcies are the most common, there are situations when filing for relief under Chapter 13 bankruptcy is more appropriate.  Chapter 13 bankruptcies are repayment plans.  These plans are typically used to help catch up home or vehicle payments over a period of time, but not exclusively.  Chapter 13 bankruptcies may be filed by individuals or married couples only.  Because the total household income is involved in determining the Chapter 13 bankruptcy plan of reorganization, it is very important to look at the total household debt to…Read More


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