What are the ways to get our of bankruptcy?
I am bankrupt and I want to get out of bankruptcy as soon as possible. Is there a faster way to get our of bankruptcy aside from just being a good monthly contributor and wait til I finish paying off my target contribution? If there are other ways, what are they and what shouldI do to achieve my goal?
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There are four ways to get out of bankruptcy. The first method is by paying off all outstanding debts. The second method is to make a proposal to creditors to repay your debts. The third ways is to apply to the court for an order of discharge. The last method is by fully paying off your target contributions. Depending on which method is used, it is possible to have your name removed from the bankruptcy register. In short there no easy way out and if methods 2 and 3 are easy then it would definitely come with a price.