Debtors who have faced obstacles to paying off their debts when due have no doubt received more than their fair share of demanding letters and phone calls, and the thought of getting rid of their debts, and thus the constant demands, through bankruptcy can be quite appealing. Before making a decision to pursue that route, which can have long-term effects on credit rating and the ability to make large purchases, like a home, debtors should consider other, less drastic alternatives.

Generally, no. Filing Chapter 7 bankruptcy is generally not a "tax event." A person does not incur less or more income taxes by filing bankruptcy. It has no effect. No. Creditors do not have to show up to the bankruptcy meeting and rarely do. Creditors have up till 60 days from the date of the meeting to object. Again, it is as rare as snow in May that a creditor objects to a debt, and it is usually something which you and I have talked about prior.

Sometimes payment plans can be negotiated with creditors. Obtaining loan extensions, compromises and workout agreements require negotiation skills and the experience of an attorney. It is in your best interest to contact an attorney at Hatch, Little & Bunn, LLP. These alternatives may alert your creditors to the existence of nonexempt property that the creditor could reach and can involve considerable expense. You also have the option of doing nothing.

Communicate with your creditors, formulate a better payment plan, seek professional advice through a non-profit credit counseling service, consider debt consolidation and refinancing.

You should only file Bankruptcy as a last resort and after all other methods have failed. If you have enough discretionary income to resolve your debt over time, it may be recommended that you attempt Debt Settlement in lieu of filing bankruptcy. Resolving your debt through Debt Settlement will have a more positive impact on your credit rating in the long run. Remember that a Bankruptcy will stay on your credit profile for up to 10 years.

You should notify the trustee in the case and call or write to the United States Trustee at (303) 312-7230 or 999 18th St., Ste. 1551, Denver, CO 80202. Members of the public can now report suspected bankruptcy fraud via e-mail to USTP.Bankruptcy.Fraud@usdoj.gov The DOJ's Executive Office of US Trustees (EOUST) has launched an Internet hotline to allow the public to report suspected instances of bankruptcy fraud. Please click here to visit the Department of Justice Bankruptcy Fraud Hotline.

The alternatives involve getting a joint ITD/CAEN account from the CAEN Office in the Media Union, which gives you access to the CAEN Sun Sparc 20s in NUBS and the Media Union Site, and the RS/6000 machines in the Media Union Site. It is also occassionally possible to get an account on a departmental unix machine, though not all departments have unix machines, and not all departments that do have unix machines offer accounts to all of their students, staff, and faculty.

For a debtor, it is an opportunity to reduce or eliminate debt, cancel contracts or leases, and return to financial health. The filing of a petition in bankruptcy automatically triggers a broad restraining order against all creditors, preventing them from commencing or continuing any judicial proceeding against the debtor including the enforcement of judgments.

No. U.S.C. Sec. 525, prohibits any employer from discriminating against you because you filed bankruptcy.