Debtors who have faced obstacles to paying off their debts have no doubt received more than their fair share of demanding letters and phone calls, and sometimes the pressure of such a situation can make the thought of filing bankruptcy and getting rid of their debts quite appealing. That course of action can have long-term effects on credit rating and the ability to make large purchases in the future, so debtors may wish to consider other less drastic alternatives, including those described below: dealing with creditors informally, and workouts.*
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