If your debt situation is so critical that it requires immediate relief from all debts, big and small, you should consider a little-known federal law, the Wage Earner Plan, which although is administered by bankruptcy courts, it has nothing to do with bankruptcy. You can file the Wage Earner Plan which is provided for by federal law. This particular plan is not commonly known by the public. You can file this yourself without an attorney within two hours. If you feel that there is no way for you to catch up, you have sold about everything you could sell and borrowed from every possible source that you know, and your monthly bills are more than your monthly paycheck, then you may consider this Wage Earner Plan. You don't have to feel desperate any longer.



The Wage Earner Plan can be done all by your self for about $35.00 - $50.00. There is basically only one major requirement which is the debtor must be an individual whose major income is acquired from a salary or commission. It makes no difference if the income is $300 or $300,000 a year. Every person is eligible if they are employed. Under this Wage Earner Plan the court will give you up to 36 months to pay off your debts. If for any reason during the three years you become ill, lose your job or suffer loss of employment due to strikes, the court can reduce or suspend payments from the debtor. The Wage Earner Plan is based entirely on your income; so if later on during the plan your income becomes less than when you first filed, your payments can be adjusted by the court.

The Wage Earner Plan is supervised by an agency of the U.S. government and is a method of consolidating debts for payment. It can be instrumental in reducing your total monthly payments by 65% to 75%. You are eligible to file for financial relief under the Wage Earner Plan if your income is mostly from wages and salary; and the amount of your income makes absolutely no difference. Furthermore, there is no limit to the amount of indebtedness that can be discharged under a Wage Earner Plan.

First, go to the nearest United States District Court and contact the referee who handles these type proceedings. You will be required to fill out several forms listing your income and various debts. A restraining order will be issued within 24 hours after the court has approved your Wage Earner Plan. This restraining order stops all legal claims against you, including wage assignments. It prohibits creditors from contacting you by mail, telephone or in person. It forbids all forms of threats and harassment. It reduces your monthly payments by up to 75%. It blocks lawsuits against you; it stops interest payments, finance charges and late payment fees. It even protects your property and other assets from seizure by creditors, just as long as you faithfully make your payments to the court trustee. The Wage Earner Plan could be your answer.