Bankruptcy or insolvency should be the last resort for any borrower. You should explore other options like individual voluntary arrangements, debt consolidation, etc., before filing an application for bankruptcy. If you are debt-ridden but hopeful for the future then there is no need to take such an extreme step by filing for bankruptcy if there are betters way for debt consolidation and relief.

The New Year was like a dam breaking with respect to foreclosures and homeowners looking for a way out.

The United States and fellow Paris Club members Russia and Germany agreed Wednesday, July 18, to provide additional debt relief to Afghanistan under the terms of the enhanced Heavily Indebted Poor Countries (HIPC) initiative.

Russia's state debt in 2008 will total 8.5% of the gross domestic product (GDP) and will be the lowest in the country's history, the finance minister said Monday.

Debt is a four-letter word that puts us on parole for the rest of our lives. The cost of living alone is so demanding that debt mounts, mounts, mounts, and breaks us with each heaping rise. We have to pay folding money, pay for apparel, food, gasoline, Uncle Sam fees, rent, installment credit, car payments, institution, etc, that sometimes it is next to impossible not to find yourself humming this four-letter word.