Living Life As a Credit Risk After Bankruptcy

People filing Bankruptcy are finding it easier to pay their bills, but harder to live a better life.

Once someone files Bankruptcy, they become a bigger Credit Risk.  So if you know anyone hopelessly considering Bankruptcy, they should consider the years of negative credit consequences.

Today, I was reading a story about Danielle Lancaster.  You may not know her and in fact, I just read about  her heart-breaking story in the Washington Post.   Danielle, filed Bankruptcy when her debt became twice that of  her monthly income.

Although Danielle was able to Bankruptcy,  she still owes money to her Creditors.

Danielle was not granted a ‘Clean Sweep’ of her debts.   She is on a repayment plan.

After the Bankruptcy, Danielle is also finding it hard to get a better paying job.  Not because of the Bankruptcy, but because she can’t move her family to where the better jobs are.  Danielle can’t get a Landlord to rent to her without a lot of money upfront.

In theory, Danielle would be able to rent an apartment for her family after Bankruptcy. But in real-life, Bankruptcy makes her a Credit Risk.

Fantasy Land of Bankruptcy

People talk themselves into Bankruptcy out of fear.  Bankruptcy does make the Creditors back off.  And Creditors backing off eases some of the tension bad Credit and Debt cause.  But what do people learn after they file Bankruptcy?

• They are trapped in Debt for up to 20 years (just less of it).
• Their Credit-Worthiness is worthless (people are scared to do business with them).
• They find it harder to get life back on track financially.

Why not consider the alternative to Bankruptcy?

I’ve asked this before.  Why don’t people consider their other options to filing Bankruptcy?  I think the answer is because they do the math.  They figure they can pay about $2,500, file Bankruptcy and be done with it.  I have to face the facts, Bankruptcy is a quick-fix.  Bankruptcy works when filed properly.

So, if you know someone who really has their heart on filing Bankruptcy, ask them if they’ve researched the negative consequences of filing.  Ask them are they ever going to want Credit again (maybe to start a Business)? Ask them if they are prepared to live on the wrong side of the tracks for about 10 years?  Ask them if they are prepared to live life as a Credit Risk?

3 Respected Financial Experts Warn to Avoid the Burdens of Bankruptcy

Bankruptcy May Not Be Available To Many Debtors

If you’re thinking about Bankruptcy, you should know that at least 3 well respected Financial Experts point out the many burdens of  the New  Bankruptcy Laws.

Recently, I wrote  a Bankruptcy article, and  I was verbally  attacked by a Bankruptcy Lawyer, Carl Starett 😦  He questioned the products Debt Warriors offers, he criticized the prices of our Products ($48.88)  and attempted to wage a viral war against us.   I guess in this Attorneys  case, the truth hurt too much 🙂

Today Attorney Starett, claims I “retracted” my story.  I took the story down because I was respectfully asked to take a different approach by my Attorney.  Attorney Starett,  please know that Debt Warriors are  just getting started 🙂 !

This time, I’m going to share some of the (objective)  findings of 3 well respected Personal Finance Experts, about the burdens of the  New Bankruptcy Law (of 2005).

Cnn.com’s  Gerri Willis, published an article called: “The New Bankruptcy Law and You: What you should know about the law, which will make it tougher for consumers to clear their debts” .

If the title of the article alone doesn’t support my premise, Ms. Willis continues, “And those who file will be paying much higher fees to Bankruptcy Attorneys”. These are her words, not mine. Click the link above and see for yourself.

Ms. LaToya Irby wrote in her Article, 4 Ways to Avoid Bankruptcy, “Because bankruptcy can have such a devastating effect on your credit score, it’s better to seek other alternatives before filing Chapter 7 or Chapter 13 bankruptcy.  If another solution saves your credit, it’s better to take it, even if it will take longer or cost more to get rid of your debt.”  Again, the words of another Personal Financial Expert – not myself.

Dave Ramsey, wrote in his article, ‘The Truth About Bankruptcy‘, “Don’t let anyone fool you. I have been through bankruptcy and have worked with bankruptcy for decades, and it is not a place you want to visit”. 

I realize that after this post the Average Bankruptcy Attorney will not want to be my friend. That’s OK:)  I also realize that I may arouse some negative publicity about Debt Warriors from some  angry (and insecure)  Bankruptcy Attorneys.

We  Started Debt Warriors to Help American Consumers Avoid the Burdens  of Bankruptcy.

The Debt Warriors Arsenal is the ultimate Bankruptcy Alternative.  This video course takes you step-by-step through the process of Credit and Debt Management, expert budgeting solutions, easy to use;  forms, grids and Debt Reduction Software.  It’s apparent that Attorney Starett, feels threatened by how we help Consumers help themselves.

Believe it or not, Bankruptcy is not a Financial  ‘Fresh Start’.

I guess Attorney Starett  feels threatened by the fact that for under $50, American Consumers  can avoid paying him hundreds if not thousands of dollars for his Bankruptcy services.  Over the next few day’s, I will keep posting objective sources about the burdens of Bankruptcy.

Even if you don’t consider  Debt Warriors  products, please think 3 times before you seek  Bankruptcy? And don’t trust anyone who tries to make a reputation by attacking those offering alternatives to filing Bankruptcy.

Who You Calling A Dead-Beat?

As a DEBT WARRIOR, I often find myself battling against the same people I’m trying to help.

We get nasty comments like this one from Sonora708 on YOUTUBE

“You guys are the scumbags… Debt terrorists??? come on now… frickin brainwashers… you should sell your videos so that these people can be in debt with that too…you guys are gonna get alot of people in alot of trouble… good luck!!! and people… pay your bills.. ducking and dodging collectors will not make your bill go away…nor accussing collectors of harassment…. make our jobs easier…”

We always consider the source whenever we get a comment. That comment above was left by a self-described [debt] “collector”. They are really upset that we exposed them for the crooks that 99% of them are. And they are terrified of the truth about their tricks getting out.

Americans have been brainwashed into false beliefs about who really are Dead-Beats.

The popular belief is that Conusmers you should pay-up [when they owe]. We agree. What happens when Lenders can’t pay what they owe? Bear Sterns is a recent major example. Banks and Lenders fail all the time and YOU and I have to fit the bill!

We’ve included a fun and easy to understand Video, called “The Banker’s Tale”. If you’d like to know exactly how banks work, this video explains how banks became legally protected Dead-Beats.

To watch the Bankers Tale on YOUTUBE, click here

1. A vast majority of Lenders force Consumers to pay to excessive interest ( up to 29%) and mysterious fees for loans. But Lenders are allowed to borrow money at nearly all time lows of 2.25%.
2. Lenders Successfully lobbied for the ‘Bankruptcy Abuse Prevention and Consumer Protection Act’. It become a Federal Law in 2005. The changes to the Bankruptcy Law make it harder and way more costly, for Consumers to bail themselves out of debt. But Lenders like Bear Sterns, Fannie Mae and Freddy Mack were quick to accept a Taxpayer bailout when they fell on hard-times economic times recently.

Former Chariman of the St. Louis Federal Reserve, Wiilliam Poole, said it best in July,

“Congress ought to recognize that these firms [Banks and Lenders] are insolvent. Allowing these firms to exist as bastions for the privledge, financed by the taxpayer.”

Don’t be ‘Brainwashed’ by the a Former Chairman of The Federal Reserve! I’m being sarcastic to those like Sonora708 and all the other people who’d have Consumers believe that they are wrong for saying “this can’t be right”. It’s not right! It’s not fair and it has to change!

Who do Banks consider Dead-Beats? I’ll tell you next time. Don’t forget the option of getting DEBT WARRIORS updates by email. Fill out the quick sign-up form on the right side-bar.
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Don’t Let Debt Defeat you! Settle Your Debt For Yourself! Or, hire an affordable Attorney in your State – for less that $1 per day. DEBT WARRIORS Show you how. Call 866-576-4996.

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