- Instructor: Attorney Bob Schaller
- Lectures: 1
Alternatives to a Chapter 7 Case.
Filing bankruptcy is a last resort for most people. People in debt try to avoid bankruptcy by “tightening their belts” to reduce monthly expenses so the debts can be repaid over a period of time. Other people try increasing monthly income by working overtime or a second job. Some sell their jewelry, cars, or other personal property. Bank loans are another source of money to pay existing debts. If the debtor is lucky, they can obtain a loan from the “Bank of Mom & Dad.”