MAiGNOL:[A

CLIPPING SERVICE
(60%)85,6-0911 1 (205) 758-8510

HATTIESBURG AMERI'CAN
I
HA'TTIESBURG, MS,
Circulation = 26509
DAILY
11/14/2008

A!temoioes to filingbankruptcy
r 2t
W fH THE INCREASING
credit crunch that is affect-
,*@many ~mericanstoday
and the sham rise in loan foredo-
s m , $ns&ers a k exploring o p
tions bhelp ~ eout t of a credit crisis.
Thde aremany steps that can be
takmineffortstoimpmaedit, +
e l i e debt and avoid filing bank-
BILL MOAK
1
rupt~$While bankruptcy is ail ex-
cellent method of clearing up debt, it
is e e n d v used as a last result in This also can allow you to rebuild
f&igaedit problems. Bankruptcy your credit more quickly than with a
remains on our credit record for as bankruptcy on your record.
long as 10years and it could result , ICollsotidate debt Establish a
in t h e i n a b i i to obtain any type :. low monthly payment that is "do-
of credit until the banhptcy has i able" for your finannal situation in
expired." order to reduce debt, stop creditors
m e following are alternatives to from hounding you, and avoid
filing bankruptcy: bankruptcy.
IDo nothing. If you have no as- IMake a proposal directly to
.. your creditors. Such "deals" should
sets or income that @nbegar-
nished, then badmptcl;wouldiiot' * Ifelpyou establish a payment plan
be of benefit and would,'notc b g e that is In line with your current fi-
your financial situation. Creditors nancial situation.
would not.attempt to take l e d a c - The Better Buuness Bureau of
tion since there would be nding Mississippi has been providing con- '
for them to collect swnerassimce since 1964. check
G e t aedit counseling. Learn with BBB for information on credit
how to manage your money to re- counseling and debt consolidation
duce debt enterprises. Gd to www.ms.bbb.org
INegotiate withaeditors. Re-
akzin~that banlaurn is a viable
opdoi to wipe the daie clean, most Bill Moak is pretidmt of the Better
creditors are willing to work hith Business Bureau of M i m G Reach
you to collect as much as they can. him a~wUU,bbbrns.org.