Debt can best be described in USC § 1692a(3) as any obligation for money, goods, or services incurred primarily for personal, family or household purposes. In our consumer oriented society today, constantly in debt is as American as apple pie.

When Debt Gets out of Control

     With the inundation of print, media and Internet advertisement, the consumer is constantly being bombarded to not only buy a service or a product, but to purchase the product or service on credit, thus increasing our personal debt. Sometimes, due to a loss of income or just plain mismanagement, a person's debt gets out of control. This is where good debt advice comes in handy.

Where Do I Find Good Advice

     They say good decisions are made from correct information. Finding a professional that is familiar with your financial situation and has an expertise in that area is one of many good decisions that you need to obtain. In the field of debt relief, tax attorneys, accountants and bankruptcy attorneys as well as credit counselors may be the best sources for finding debt solutions.

	Tax Attorneys - If your debt has to deal with back taxes, an attorney specializing tax litigation may be your answer. Instead of filing bankruptcy, the attorney may determine that an "offer and compromise" with the Internal Revenue Service may be one of your solutions.
	Accountants -Working with an accountant to help you figure how much in debt you really owe. Sitting down with an accountant or if your debt is more complex a Certified Public Accountant (CPA) may be advisable.
	Credit Counselors -Setting an appointment with a reputable credit counselor may be good advice if you are overwhelmed with credit card debt. They can help you contact the credit card companies and setup a payment process that are realistic to your financial needs.
	Bankruptcy Attorneys - Attorneys who specialize and practice bankruptcy law may be helpful for those that are looking for permanent relief of their financial status. Starting fresh can be a "God Sent" to those that had this debt for the years.

If You Plan to file Bankruptcy

     Some of the "Don'ts" to remember, if you plan to file bankruptcy are the following.

1).  Don't try to repay your friend or family member the loan you owe them or transfer hidden assets and try to fool the court.   2).  Don't try to run-up your credit card debt or take cash advances before you file.   3).  Don't lie to your attorney.   4).  Don't lie to the trustee or creditors when at the 341 meeting.   5).  Don't try to withhold assets from you bankruptcy.

     When filing bankruptcy It may be tempting to give your mother that load of cash you won at the racetrack or tell the trustee that the Norman Rockwell original painting is only a printed replica. However, ignoring these five factors may cause your case to be discharged or you may even be prosecuted for fraud if the Justice Department has a strong case against you.

Good Advice and You

     Within this section as well as within Bankruptcy-Attorney.com there are a number of articles that may be helpful to your situation. Some of the helpful articles for the consumer are on the following; Alternatives to Bankruptcy, Debt Consolidation, Avoiding Bankruptcy, Life after Bankruptcy and Bankruptcy Strategies.

Written by Henry Rendler