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Are there any alternatives to bankruptcy?
Aside from debtor protection under the bankruptcy laws there are some other alternatives. These include loan extensions, compromises, workout agreements and taking no action. All but the last require negotiation skills and experience. These alternatives may alert your creditors to the existence of nonexempt property that the creditor could reach. In any event you should seek professional advice in dealing with most of these alternatives.
Updated: 10/13/99
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