Most people assume that filing for bankruptcy is the worst thing in the world and that they will loose everything they own – – this is not the case.  While it may not be the best move for everyone, anyone owing $1,000 or more without the assets to pay off the debt can file for bankruptcy relief.  Some individuals are now seeking to solve their credit problems with consumer proposals.

For more information on consumer proposals read, “Bankruptcy a last resort, but not the end of the world, experts say.”