{"id":286967,"date":"2016-04-04T10:41:53","date_gmt":"2016-04-04T15:41:53","guid":{"rendered":"https:\/\/content.findlaw-admin.com\/ability-law\/bankruptcy\/what-is-bankruptcy\/finding-a-bankruptcy-alternative.html"},"modified":"2025-07-17T09:54:00","modified_gmt":"2025-07-17T14:54:00","slug":"finding-a-bankruptcy-alternative","status":"publish","type":"page","link":"https:\/\/www.findlaw.com\/bankruptcy\/what-is-bankruptcy\/finding-a-bankruptcy-alternative.html","title":{"rendered":"Finding a Bankruptcy Alternative"},"content":{"rendered":"\n
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Finding a Bankruptcy Alternative<\/h1>\n\n
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\n By Christie Nicholson, J.D.<\/a> | Legally reviewed by Laura Temme, Esq.<\/a>\n | Last reviewed\n
\n \n <\/i>\n Legally Reviewed\n <\/summary>\n\n
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This article has been written and reviewed for legal accuracy, clarity, and style by FindLaw\u2019s team of legal writers and attorneys<\/a> and in accordance with our editorial standards<\/a>.<\/em><\/p>\n\n <\/div>\n <\/details>\n\n

\n \n <\/i>\n Fact-Checked\n <\/summary>\n\n
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The last updated date refers to the last time this article was reviewed by FindLaw or one of our contributing authors<\/a>. We make every effort to keep our articles updated. For information regarding a specific legal issue affecting you, please contact an attorney in your area<\/a>.<\/em><\/p>\n\n <\/div>\n <\/details>\n<\/section>\n\n\n

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For most people, filing for bankruptcy is a last resort. They’ve tried\u00a0 to pay their debts, but cannot catch up. Filing a bankruptcy petition can be highly frustrating and embarrassing, but for people drowning in debt, it may seem like the most viable solution. However, other options are available.<\/p>\n\n <\/div>\n\n\n\n

You may feel that filing a Chapter 7 bankruptcy or a Chapter 13 bankruptcy case is your only way out. The truth is that you may have other ways to pay off your debts. For example, if debt collectors are calling\u00a0you night and day,\u00a0talking\u00a0to a debt relief or debt settlement company might provide a path to a solution. Each case will be different, as\u00a0it depends on your financial situation. Only you know what is best for you and your family.<\/p>\n

This article examines\u00a0some of the alternatives to bankruptcy. It also\u00a0explains\u00a0how these bankruptcy alternatives can help solve your debt problems. If you still believe bankruptcy is the best solution,\u00a0consider discussing it with a\u00a0bankruptcy attorney<\/a>\u00a0before taking that step.<\/p>\n

Alternatives To Filing for Bankruptcy<\/strong><\/h2>\n

If you are struggling with debt but don’t want to file for bankruptcy, you have options. Some people are afraid that filing for bankruptcy will ruin their credit score. Others believe that they have too much pride to file a Chapter 7 bankruptcy.<\/p>\n

Consider the options below if you want to avoid bankruptcy at all costs.<\/p>\n

Debt Consolidation<\/strong><\/h3>\n

One bankruptcy alternative is to\u00a0combine your debt<\/a>\u00a0in order to pay it down. Sometimes, it’s easier to repay your debt when you only have to make one payment per month instead of keeping track of\u00a0multiple payment plans.<\/p>\n

Some debt consolidation options include:<\/p>\n