Faced with financial difficulties, many Arkansas residents will go to great lengths to extricate themselves from high levels of debt. For some, this will include considering bankruptcy, as well as an initial attempt at debt settlement, a process by which consumers pay one monthly sum to a company that in turn negotiates debt terms and makes payments to one's creditors. While there are certainly some reputable debt settlement companies to be found, the industry is rife with scams, including one run by a company called World Law Group, which was recently subject to a preliminary injunction.
Bankruptcy can be a safer path than debt settlement
Would you sell an organ to achieve discharge of debts?
Being overburdened with high levels of debt is a serious issue for many Arkansas residents. This can be especially difficult for young adults who have emerged from college with excessive student loan debt. Moving through one's 20s and 30s while struggling to pay down debt can be a challenge, and many people postpone making other significant life choices while they turn their attention to debt management. For many, there are few things they would not do to achieve the discharge of debts, including selling a vital organ.
Operating a business during and after bankruptcy
Many Arkansas business owners are familiar with the ups and downs that come with operating a successful venture. It seems as though the good times are never as long-lasting or as influential than the bad times, but dedicated business owners continue to stay the course, through good times and bad. For many, seeking a business bankruptcy is the most effective and efficient way to emerge from debt. Often, a personal bankruptcy will follow. Both of these options allow for a chance of renewal and recovery.
