January 29, 2010, Newsletter Issue #111: Turn Some Assets Into Cash As A Bankruptcy Alternative

Tip of the Week

Using alternatives to bankruptcy, managing your debt effectively and reducing your overbearing obligations in a timely manner requires careful thought, proper planning and a personal commitment to solve your credit problems. It also requires one more thing: Money!

All the planning, management and commitment on the planet will not result in reducing your outstanding debt without the necessary funds to make your program work. Borrowing more money, even with better interest and payment terms, still leaves you with some level of debt that must be managed to your benefit. So you might want to consider turning some of your available assets, particularly non-income producing ones, into cash. This will give you the ability to pay off your outstanding obligations, whether at full value or at a discounted amount. If you have items like a stamp collection, little used or displayed antiques or paintings, a time share you seldom use, or any other assets that are not part of your current income picture, turning them into much needed cash may provide you all the resources you need to solve your credit problems without declaring bankruptcy.

About LifeTips

Now one of the top on-line publishers in the world, LifeTips offers tips to millions of monthly visitors. Our mission mission is to make your life smarter, better, faster and wiser. Expert writers earn dough for what they know. And exclusive sponsors in each niche topic help us make-it-all happen.

Not finding the advice and tips you need on this Bankruptcy Tip Site? Request a Tip Now!


Guru Spotlight
William Pirraglia
Buy My Book