Wipe Out Debts Without Bankruptcy

In 1938 a federal law was passed known as the Wage
Earner Plan. It is administered by the same branch of our
courts that handle bankruptcy. You must be a wage-earner
to use the law - that is the primary requirement. The
Wage Earner Plan does not in itself 'wipe out' debts, but
a little-known proviso of your filing requires that your
creditors must appear to verify your indebtedness to them.
Statistics indicate that 40% fail to appear, in which
case, those debts are indeed 'wiped out'. In some cases
100% of the creditors fail to appear, which enables you to
wipe out ALL your debts without bankruptcy. If some of
the creditors do appear, then the court allows you to
spread your payments out over a three year period in
smaller amounts so that you can afford to pay.

Once you file under the Wage Earner Plan, you stop bill
collectors, lawsuits, judgements, assignments, seized bank
accounts, and other actions against you. And to top it
off, your credit rating is, in many cases, improved
because you made an honest effort to work with the lending
firms. Additionally, if the seller used deceptive trade
practices to induce your purchase, your debt may be wiped
out under the provisions of the Uniform Commercial Code.
Under the Homestead Act, your residence can be exempted
from levy to the extent determined by local law. Check at
your local courthouse.