Bankruptcy is a way to potentially get out of your debts. Unfortunately, it leaves a long lasting scar, and comes at a high price - financially, emotionally, and socially. It is a long and painful process and the repercussions can last for over a decade.

The financial impact is severe; a bankruptcy will stay on your credit report for 7-10 years. Every time you apply for credit, whether it is a home, a car, a lease, or insurance, you may be impacted. The long-term effect of higher rates may greatly outweigh the shorter-term impact of filing bankruptcy.

Additionally, most people do not realize that bankruptcy can stay on their court records for over 20 years - which means it can follow someone for the rest of their life. If you apply for a job, a loan, rent an apartment, or even insurance your bankruptcy filing may be easily uncovered.

Lastly, we have yet to find someone who is proud of filing bankruptcy. Most people will do anything to avoid filing bankruptcy, and for many of our clients, FCR's Debt Reduction Program is a perfect alternative.

Bankruptcy is not an easy or even quick fix. It is a very serious decision with serious consequences. If you are considering bankruptcy, you should contact a lawyer to discuss this option.

FCR's "Debt Reduction Program" is a great alternative to bankruptcy. Our team of negotiators has one goal - to make your creditors accept our settlement amounts as payments in full, making you debt free without having to suffer the longer-term financial, emotional, and social impacts of a bankruptcy. Many of our clients are ecstatic to find an alternative to bankruptcy that still solves their debt problems.